Shira Ridge Wealth Management Purchases Shares of 803 Stryker Co. (NYSE:SYK)

Shira Ridge Wealth Management acquired a new position in Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 803 shares of the medical technology company’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC grew its position 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 buying an additional 37 shares during the last quarter. Centennial Bank AR increased its position in Stryker by 106.7% during 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 period. Darwin Wealth Management LLC bought a new position in Stryker during the 3rd quarter worth approximately $36,000. Hara Capital LLC acquired a new position in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, HBW Advisory Services LLC bought a new position in Stryker during the third quarter worth $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on SYK. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Tuesday, January 7th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Performance

NYSE:SYK opened at $360.96 on Tuesday. 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 current ratio of 1.91 and a quick ratio of 1.22. The business has a 50 day moving average of $375.28 and a 200 day moving average of $358.09. The company has a market capitalization of $137.60 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.82 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 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 EPS. On average, sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the 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 completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by company 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.