Signet Financial Management LLC Buys New Shares in Stryker Co. (NYSE:SYK)

Signet Financial Management LLC purchased a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 640 shares of the medical technology company’s stock, valued at approximately $230,000.

Several other institutional investors have also recently made changes to their positions in SYK. Parnassus Investments LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC increased its stake in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP bought a new stake in shares of Stryker during the 3rd quarter valued at $143,392,000. State Street Corp raised its position in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Stryker by 49.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after buying an additional 228,139 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Buying and Selling

In related 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 transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 1.3 %

NYSE SYK opened at $360.96 on Tuesday. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The firm 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. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $375.28 and a two-hundred day moving average of $358.09.

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

Stryker Increases Dividend

The firm also recently declared 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 represents a $3.36 annualized dividend and a dividend yield of 0.93%. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

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.