Segment Wealth Management LLC Has $18.65 Million Holdings in Stryker Co. (NYSE:SYK)

Segment Wealth Management LLC raised its holdings in Stryker Co. (NYSE:SYK) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 51,794 shares of the medical technology company’s stock after purchasing an additional 290 shares during the quarter. Stryker comprises approximately 1.3% of Segment Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Segment Wealth Management LLC’s holdings in Stryker were worth $18,648,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Zhang Financial LLC grew its stake in Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after buying an additional 40,784 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in shares of Stryker in the fourth quarter worth $587,000. PFW Advisors LLC bought a new stake in shares of Stryker in the 4th quarter valued at $1,350,000. Parnassus Investments LLC bought a new stake in Stryker in the third quarter worth approximately $762,798,000. Finally, Baltimore Washington Financial Advisors Inc. boosted its stake in Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after acquiring an additional 1,554 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $383.91 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The stock’s 50 day simple moving average is $375.51 and its two-hundred day simple moving average is $359.17.

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

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

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.