Stryker Co. (NYSE:SYK) Shares Purchased by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. raised its position in Stryker Co. (NYSE:SYK) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 69,807 shares of the medical technology company’s stock after purchasing an additional 1,243 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Stryker were worth $25,134,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its position in shares of Stryker by 101.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,414 shares of the medical technology company’s stock worth $1,162,000 after buying an additional 1,722 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Stryker by 79.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 12,579 shares of the medical technology company’s stock valued at $4,280,000 after buying an additional 5,553 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Stryker by 5.2% during the second quarter. Evergreen Capital Management LLC now owns 4,259 shares of the medical technology company’s stock worth $1,453,000 after purchasing an additional 212 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Stryker by 60.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,552 shares of the medical technology company’s stock worth $22,304,000 after purchasing an additional 24,589 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Stryker by 31.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 2,150 shares of the medical technology company’s stock valued at $679,000 after buying an additional 520 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 1.4 %

NYSE:SYK opened at $390.31 on Thursday. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The stock has a market capitalization of $148.79 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 2.72 and a beta of 0.95. The firm has a fifty day simple moving average of $375.82 and a two-hundred day simple moving average of $360.16. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during 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%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 earnings per share. Analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio is 36.01%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on 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 owns 100,027 shares of the company’s stock, 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 at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYK. BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Stryker presently 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.