Shore Point Advisors LLC Invests $343,000 in Stryker Co. (NYSE:SYK)

Shore Point Advisors LLC purchased a new stake in Stryker Co. (NYSE:SYK) during the 4th quarter, Holdings Channel.com reports. The fund purchased 954 shares of the medical technology company’s stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Planning LLC lifted its stake in shares of Stryker by 3.6% in the 4th quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after acquiring an additional 29 shares during the period. Alhambra Investment Management LLC raised its holdings in Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after purchasing an additional 29 shares in the last quarter. Avestar Capital LLC lifted its position in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after purchasing an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. boosted its holdings in Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Finally, Terra Nova Asset Management LLC increased its position in Stryker by 0.4% during the 4th quarter. Terra Nova Asset Management LLC now owns 8,344 shares of the medical technology company’s stock worth $3,004,000 after purchasing an additional 32 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Stryker stock opened at $383.91 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The stock has a fifty day moving average of $375.51 and a two-hundred day moving average of $358.98. The company has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95.

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

Stryker Increases Dividend

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

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was 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 $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Citigroup boosted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker 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.