Dakota Wealth Management Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Dakota Wealth Management raised its stake in Stryker Co. (NYSE:SYK) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,065 shares of the medical technology company’s stock after purchasing an additional 1,913 shares during the quarter. Dakota Wealth Management’s holdings in Stryker were worth $9,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC grew its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR grew its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $36,000. Hara Capital LLC purchased a new stake in shares of Stryker in the third quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC acquired a new position in Stryker during the third quarter worth $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial upped their price objective on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Robert W. Baird upped their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Up 3.2 %

Shares of NYSE:SYK opened at $395.86 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The stock’s fifty day simple moving average is $375.61 and its 200-day simple moving average is $359.53. The company has a market capitalization of $150.91 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.63 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 earnings per share. As a group, equities research analysts forecast 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 paid a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

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 stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Stryker Company 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.