Strategic Financial Concepts LLC Acquires Shares of 154,893 Stryker Co. (NYSE:SYK)

Strategic Financial Concepts LLC acquired a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 154,893 shares of the medical technology company’s stock, valued at approximately $55,769,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Advisor Solutions LLC grew its position in Stryker by 2.3% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 2,990 shares of the medical technology company’s stock worth $1,080,000 after purchasing an additional 67 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Stryker by 2.3% during the third quarter. Atomi Financial Group Inc. now owns 2,091 shares of the medical technology company’s stock valued at $755,000 after buying an additional 47 shares in the last quarter. Abner Herrman & Brock LLC boosted its stake in Stryker by 0.3% in the 3rd quarter. Abner Herrman & Brock LLC now owns 31,405 shares of the medical technology company’s stock worth $11,345,000 after purchasing an additional 106 shares during the period. Wedmont Private Capital boosted its position in shares of Stryker by 3.9% in the third quarter. Wedmont Private Capital now owns 3,414 shares of the medical technology company’s stock worth $1,178,000 after buying an additional 127 shares during the period. Finally, Steigerwald Gordon & Koch Inc. grew its stake in Stryker by 1.6% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 70,235 shares of the medical technology company’s stock valued at $25,373,000 after acquiring an additional 1,115 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.7 %

Shares of SYK opened at $396.24 on Friday. The company has a market capitalization of $151.06 billion, a P/E ratio of 51.06, a P/E/G ratio of 2.78 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The firm’s 50 day simple moving average is $377.08 and its 200 day simple moving average is $364.24.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the firm posted $3.46 EPS. Sell-side analysts forecast that Stryker Co. will post 13.5 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Analysts Set New Price Targets

Several brokerages recently commented on SYK. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. UBS Group upped their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $419.37.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.