Procyon Advisors LLC Boosts Position in Stryker Co. (NYSE:SYK)

Procyon Advisors LLC raised its stake in Stryker Co. (NYSE:SYK) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,552 shares of the medical technology company’s stock after buying an additional 53 shares during the period. Procyon Advisors LLC’s holdings in Stryker were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Edgestream Partners L.P. purchased a new stake in Stryker in the second quarter worth about $369,000. AE Wealth Management LLC lifted 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 purchasing an additional 1,722 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Stryker by 8.4% during the second quarter. Pacer Advisors Inc. now owns 27,438 shares of the medical technology company’s stock valued at $9,336,000 after purchasing an additional 2,122 shares in the last quarter. Sei Investments Co. increased its holdings in Stryker by 4.0% during the second quarter. Sei Investments Co. now owns 168,336 shares of the medical technology company’s stock valued at $57,271,000 after buying an additional 6,443 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Stryker by 69.7% in the second quarter. Thrivent Financial for Lutherans now owns 87,244 shares of the medical technology company’s stock worth $29,685,000 after buying an additional 35,833 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.50% of the company’s stock.

Stryker Trading Up 0.6 %

SYK opened at $383.91 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The business’s 50 day moving average is $375.51 and its two-hundred day moving average is $358.81. The firm has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth 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, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SYK shares. Truist Financial lifted their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Company 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.