Annex Advisory Services LLC Boosts Stake in Stryker Co. (NYSE:SYK)

Annex Advisory Services LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 63.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,549 shares of the medical technology company’s stock after purchasing an additional 5,235 shares during the quarter. Annex Advisory Services LLC’s holdings in Stryker were worth $4,878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dale Q Rice Investment Management Ltd bought a new position in Stryker during the 4th quarter valued at $587,000. PFW Advisors LLC bought a new position in shares of Stryker during the fourth quarter worth about $1,350,000. Parnassus Investments LLC acquired a new position in Stryker in the third quarter worth about $762,798,000. Baltimore Washington Financial Advisors Inc. increased its holdings in Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock valued at $24,089,000 after buying an additional 1,554 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in Stryker by 8.0% during the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.50% of the stock is currently owned by company insiders.

Stryker Stock Up 0.6 %

Shares of SYK stock opened at $383.91 on Monday. Stryker Co. has a 1 year low of $307.23 and a 1 year 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 business’s fifty day moving average is $375.51 and its 200-day moving average is $358.98. The stock has a market cap 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.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company earned $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SYK. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Truist Financial raised their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. UBS Group boosted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

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.