Spire Wealth Management Has $1.24 Million Position in Stryker Co. (NYSE:SYK)

Spire Wealth Management lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,431 shares of the medical technology company’s stock after purchasing an additional 296 shares during the quarter. Spire Wealth Management’s holdings in Stryker were worth $1,235,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. DAVENPORT & Co LLC raised its position in shares of Stryker by 43.9% during the fourth quarter. DAVENPORT & Co LLC now owns 23,244 shares of the medical technology company’s stock worth $8,369,000 after purchasing an additional 7,086 shares during the period. Tritonpoint Wealth LLC raised its position in Stryker by 1.0% in the 4th quarter. Tritonpoint Wealth LLC now owns 4,012 shares of the medical technology company’s stock valued at $1,448,000 after buying an additional 40 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Stryker by 9.3% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,219 shares of the medical technology company’s stock valued at $799,000 after buying an additional 189 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its position in Stryker by 3.0% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,482 shares of the medical technology company’s stock valued at $1,614,000 after buying an additional 130 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Stryker by 3.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,750 shares of the medical technology company’s stock valued at $3,510,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $390.97 on Tuesday. The stock has a market cap of $149.05 billion, a P/E ratio of 50.38, a PEG ratio of 2.78 and a beta of 0.96. The stock has a 50 day simple moving average of $376.68 and a 200 day simple moving average of $363.22. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the company posted $3.46 earnings per share. Research analysts anticipate that Stryker Co. will post 13.5 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.84 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is currently 43.30%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial raised their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

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.