Daymark Wealth Partners LLC Boosts Holdings in Stryker Co. (NYSE:SYK)

Daymark Wealth Partners LLC raised its stake in Stryker Co. (NYSE:SYK) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 6,589 shares of the medical technology company’s stock after buying an additional 122 shares during the period. Daymark Wealth Partners LLC’s holdings in Stryker were worth $2,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. State Street Corp grew its holdings in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC grew its stake in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC raised its stake in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares during the period. Clearbridge Investments LLC lifted its holdings in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares during the last quarter. Finally, Parnassus Investments LLC bought a new position in Stryker during the third quarter worth about $762,798,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 1.4 %

Shares of NYSE:SYK opened at $390.31 on Thursday. The firm has a fifty day moving average of $375.78 and a 200 day moving average of $359.94. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market capitalization of $148.79 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 EPS. As a group, research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed 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 represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SYK has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $425.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Finally, BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Profile

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.