Annex Advisory Services LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Annex Advisory Services LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 63.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,549 shares of the medical technology company’s stock after acquiring an additional 5,235 shares during the period. Annex Advisory Services LLC’s holdings in Stryker were worth $4,878,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Dunhill Financial LLC increased its stake in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker in the 3rd quarter valued at about $36,000. HBW Advisory Services LLC purchased a new stake in Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC acquired a new stake in Stryker during the 3rd quarter worth approximately $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE:SYK 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. The business’s fifty day moving average price is $375.51 and its two-hundred day moving average price is $358.98. The stock has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. Stryker Co. has a one year low of $307.23 and a one year high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share. On average, analysts forecast 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%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Truist Financial raised their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Four 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 company presently has a consensus rating of “Moderate Buy” and an average price target 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.