Pacific Point Advisors LLC Buys New Shares in Stryker Corporation $SYK

Pacific Point Advisors LLC bought a new stake in Stryker Corporation (NYSE:SYK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,348 shares of the medical technology company’s stock, valued at approximately $1,177,000.

Several other hedge funds have also made changes to their positions in the stock. Armstrong Advisory Group Inc. lifted its stake in shares of Stryker by 12.3% in the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after buying an additional 27 shares during the period. Venturi Wealth Management LLC raised its position in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock worth $704,000 after purchasing an additional 27 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Stryker by 3.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 28 shares in the last quarter. Wolff Wiese Magana LLC raised its position in Stryker by 2.3% in the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after purchasing an additional 28 shares in the last quarter. Finally, Lantz Financial LLC raised its position in Stryker by 5.0% in the third quarter. Lantz Financial LLC now owns 608 shares of the medical technology company’s stock worth $225,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SYK. UBS Group dropped their price target on shares of Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective for the company in a report on Tuesday, January 6th. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a report on Friday, December 19th. Finally, Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $425.56.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.60% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of SYK stock opened at $331.64 on Wednesday. Stryker Corporation has a 52-week low of $319.32 and a 52-week high of $404.87. The stock has a market cap of $127.01 billion, a PE ratio of 39.48, a PEG ratio of 1.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The firm’s 50 day moving average price is $356.14 and its two-hundred day moving average price is $361.12.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period last year, the firm earned $4.01 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.