Stryker Co. (NYSE:SYK) Stake Boosted by Tompkins Financial Corp

Tompkins Financial Corp raised its position in shares of Stryker Co. (NYSE:SYK) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,505 shares of the medical technology company’s stock after buying an additional 602 shares during the quarter. Tompkins Financial Corp’s holdings in Stryker were worth $6,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Planning LLC lifted its position in shares of Stryker by 3.6% in the 4th quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after acquiring an additional 29 shares in the last quarter. Avestar Capital LLC boosted its position in shares of Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after buying an additional 32 shares in the last quarter. Grimes & Company Inc. raised its position in Stryker by 0.4% during the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after buying an additional 33 shares during the period. Finally, Moran Wealth Management LLC lifted its stake in Stryker by 0.4% in the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after acquiring an additional 34 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on SYK shares. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Price Performance

Shares of NYSE:SYK opened at $381.32 on Friday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $145.36 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.51 and a beta of 0.95. The business has a 50 day moving average price of $375.12 and a 200 day moving average price of $358.32.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. Research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is 36.01%.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.50% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.