Old Port Advisors Has $359,000 Holdings in Stryker Co. (NYSE:SYK)

Old Port Advisors lifted its stake in Stryker Co. (NYSE:SYK) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 996 shares of the medical technology company’s stock after acquiring an additional 62 shares during the period. Old Port Advisors’ holdings in Stryker were worth $359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC grew its holdings 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 worth $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR lifted its position in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in Stryker in the 3rd quarter valued at $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. Finally, Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter worth about $42,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 target price (up previously from $400.00) on shares of Stryker in a research note on Wednesday, December 11th. Needham & Company LLC increased their target price on Stryker from $409.00 to $442.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Truist Financial upped their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, BTIG Research upped their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

Shares of SYK stock opened at $358.72 on Friday. The firm’s 50 day moving average price is $375.06 and its two-hundred day moving average price is $356.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market cap of $136.75 billion, a PE ratio of 38.45, a PEG ratio of 2.82 and a beta of 0.94. Stryker Co. has a 52-week low of $292.43 and a 52-week high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm earned $2.46 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm 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. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

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.