Pinnacle Wealth Management Advisory Group LLC Has $512,000 Holdings in Stryker Co. (NYSE:SYK)

Pinnacle Wealth Management Advisory Group LLC lifted its stake in Stryker Co. (NYSE:SYK) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,421 shares of the medical technology company’s stock after buying an additional 52 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Stryker were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chicago Capital LLC increased its holdings in shares of Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock worth $70,228,000 after purchasing an additional 5,841 shares during the period. Zhang Financial LLC increased its stake in Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after acquiring an additional 40,784 shares during the period. Appleton Partners Inc. MA increased its stake in Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after acquiring an additional 1,400 shares during the period. Dale Q Rice Investment Management Ltd acquired a new position in Stryker in the 4th quarter valued at approximately $587,000. Finally, Berkshire Bank grew its holdings in shares of Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $385.05 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a 50 day simple moving average of $377.31 and a 200 day simple moving average of $366.92. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a market cap of $146.79 billion, a P/E ratio of 49.62, a P/E/G ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 earnings per share. Sell-side analysts predict that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 0.87%. Stryker’s payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SYK shares. The Goldman Sachs Group upped their target price on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Truist Financial upped their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Barclays raised their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

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.