Destiny Wealth Partners LLC Raises Position in Stryker Co. (NYSE:SYK)

Destiny Wealth Partners LLC boosted its stake in Stryker Co. (NYSE:SYK) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,507 shares of the medical technology company’s stock after purchasing an additional 392 shares during the period. Stryker makes up approximately 2.4% of Destiny Wealth Partners LLC’s holdings, making the stock its 7th largest position. Destiny Wealth Partners LLC’s holdings in Stryker were worth $14,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Concord Wealth Partners grew its position in Stryker by 2.2% during 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. Chicago Partners Investment Group LLC boosted its stake in shares of Stryker by 31.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 3,647 shares of the medical technology company’s stock worth $1,328,000 after acquiring an additional 877 shares during the last quarter. Scharf Investments LLC grew its position in shares of Stryker by 7.1% during the 4th quarter. Scharf Investments LLC now owns 8,052 shares of the medical technology company’s stock valued at $2,899,000 after acquiring an additional 537 shares during the period. Clear Creek Financial Management LLC increased its stake in shares of Stryker by 28.4% in the 4th quarter. Clear Creek Financial Management LLC now owns 2,917 shares of the medical technology company’s stock worth $1,050,000 after purchasing an additional 646 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Stryker in the 4th quarter worth $662,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 0.1 %

Shares of SYK opened at $390.90 on Friday. The business’s 50 day simple moving average is $376.68 and its 200-day simple moving average is $362.81. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market capitalization of $149.02 billion, a price-to-earnings ratio of 50.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same quarter last year, the company earned $3.46 earnings per share. As a group, equities analysts expect that Stryker Co. will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, December 31st. Stryker’s payout ratio is presently 43.30%.

Insider Buying and Selling at Stryker

In other 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYK. Truist Financial boosted their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research note on Thursday. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $419.37.

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.