Allen Mooney & Barnes Investment Advisors LLC Raises Position in Stryker Co. (NYSE:SYK)

Allen Mooney & Barnes Investment Advisors LLC increased its position in Stryker Co. (NYSE:SYK) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,621 shares of the medical technology company’s stock after purchasing an additional 86 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Stryker were worth $584,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYK. Brown Brothers Harriman & Co. increased its stake in shares of Stryker by 1.2% during the second quarter. Brown Brothers Harriman & Co. now owns 5,521 shares of the medical technology company’s stock valued at $1,879,000 after buying an additional 66 shares during the period. Dimensional Fund Advisors LP increased its position in Stryker by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock valued at $267,725,000 after purchasing an additional 97,160 shares during the period. Luts & Greenleigh Group Inc. bought a new stake in shares of Stryker in the 2nd quarter valued at about $565,000. Primecap Management Co. CA lifted its position in shares of Stryker by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 447,500 shares of the medical technology company’s stock worth $152,262,000 after purchasing an additional 1,400 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Stryker during the second quarter valued at approximately $369,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SYK. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. UBS Group raised their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling

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 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 approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

Stryker stock opened at $362.68 on Wednesday. The stock has a market cap of $138.26 billion, a P/E ratio of 38.87, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The company has a fifty day simple moving average of $375.13 and a 200-day simple moving average of $358.25. 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 Co. has a 12-month low of $307.23 and a 12-month high of $398.20.

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, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis 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 (DPR) is 36.01%.

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.