Center for Financial Planning Inc. Has $1.80 Million Holdings in Stryker Co. (NYSE:SYK)

Center for Financial Planning Inc. lessened its stake in Stryker Co. (NYSE:SYK) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,987 shares of the medical technology company’s stock after selling 61 shares during the quarter. Center for Financial Planning Inc.’s holdings in Stryker were worth $1,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Opal Wealth Advisors LLC raised its stake in Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after acquiring an additional 28 shares in the last quarter. Capital & Planning LLC increased its stake in shares of Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after buying an additional 29 shares during the period. Alhambra Investment Management LLC increased its stake in shares of Stryker by 1.5% in the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after buying an additional 29 shares during the period. Concord Wealth Partners increased its stake in shares of Stryker by 2.2% in the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock valued at $503,000 after buying an additional 30 shares during the period. Finally, Avestar Capital LLC increased its stake 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 valued at $1,065,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed 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. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Barclays increased their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the 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 of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of SYK opened at $385.05 on Friday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The business’s fifty day moving average is $377.31 and its 200 day moving average is $366.30. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $146.79 billion, a P/E ratio of 49.62, a P/E/G ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company posted $3.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

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.