Cranbrook Wealth Management LLC Increases Position in Stryker Co. (NYSE:SYK)

Cranbrook Wealth Management LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,975 shares of the medical technology company’s stock after buying an additional 114 shares during the period. Cranbrook Wealth Management LLC’s holdings in Stryker were worth $1,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Stryker by 2.2% in 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 increased its position in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 worth $2,484,893,000 after acquiring an additional 165,490 shares during the period. Clearbridge Investments LLC boosted its stake 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 buying an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new position in Stryker in the third quarter worth approximately $762,798,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $383.91 on Friday. The company has a market capitalization of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. 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 business’s fifty day moving average is $375.35 and its 200 day moving average is $358.48. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI upped their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

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.