David Wealth Management LLC Acquires New Stake in Stryker Co. (NYSE:SYK)

David Wealth Management LLC bought a new position in Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 805 shares of the medical technology company’s stock, valued at approximately $290,000.

A number of other institutional investors have also recently modified their holdings of SYK. Dunhill Financial LLC boosted its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker in the third quarter worth about $36,000. Activest Wealth Management purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $36,000. Crews Bank & Trust bought a new stake in shares of Stryker during the fourth quarter valued at approximately $39,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter worth approximately $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SYK. JPMorgan Chase & Co. increased their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Citigroup increased their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Trading Down 0.5 %

SYK stock opened at $390.52 on Wednesday. The company has a market capitalization of $148.88 billion, a price-to-earnings ratio of 50.33, a PEG ratio of 2.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business has a 50 day simple moving average of $377.28 and a two-hundred day simple moving average of $365.59.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 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 23.58%. During the same period in the previous year, the company posted $3.46 EPS. Research analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by insiders.

Stryker 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.