Stryker Co. (NYSE:SYK) Position Raised by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC raised its holdings in Stryker Co. (NYSE:SYK) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,507 shares of the medical technology company’s stock after purchasing an additional 392 shares during the period. Stryker accounts for about 2.4% of Destiny Wealth Partners LLC’s holdings, making the stock its 7th biggest position. Destiny Wealth Partners LLC’s holdings in Stryker were worth $14,945,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. FMR LLC raised its holdings in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC lifted its position in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after buying an additional 165,490 shares during the last quarter. Parnassus Investments LLC bought a new position in Stryker during the third quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC raised its stake in shares of Stryker by 1.5% during the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after acquiring an additional 28,421 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYK. UBS Group increased their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada boosted their target price on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $419.37.

Stryker Trading Up 0.1 %

SYK opened at $390.90 on Friday. The business has a 50 day moving average of $376.68 and a 200-day moving average of $362.81. 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 stock has a market cap of $149.02 billion, a PE ratio of 50.37, a PEG ratio of 2.68 and a beta of 0.95. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same period last year, the business posted $3.46 earnings per share. Equities research analysts predict that Stryker Co. will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, December 31st. Stryker’s payout ratio is currently 43.30%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

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.