Brighton Jones LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Brighton Jones LLC grew its position in Stryker Co. (NYSE:SYK) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,564 shares of the medical technology company’s stock after purchasing an additional 609 shares during the period. Brighton Jones LLC’s holdings in Stryker were worth $1,643,000 at the end of the most recent quarter.

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

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

SYK stock opened at $394.08 on Friday. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $150.23 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The business has a 50 day simple moving average of $376.03 and a 200-day simple moving average of $360.39.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned $2.46 EPS. Equities research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $442.00 price target on shares of Stryker in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Citigroup boosted their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Stryker presently has an average 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.