Howard Financial Services LTD. Makes New Investment in Stryker Co. (NYSE:SYK)

Howard Financial Services LTD. bought a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 853 shares of the medical technology company's stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Dunhill Financial LLC boosted its position in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after buying an additional 37 shares during the period. Centennial Bank AR boosted its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker in the third quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new position in Stryker during the 3rd quarter worth $42,000. Finally, Hara Capital LLC bought a new stake in Stryker during the 3rd quarter valued at $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the topic of several research reports. Wells Fargo & Company raised their price target on Stryker from $405.00 to $427.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Royal Bank of Canada restated an "outperform" rating and issued a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Tuesday, January 7th. Truist Financial boosted their price objective on shares of Stryker from $380.00 to $409.00 and gave the stock a "hold" rating in a research note on Wednesday, December 18th. Finally, UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $405.80.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.50% of the company's stock.

Stryker Price Performance

Shares of NYSE:SYK traded up $2.12 during trading on Friday, reaching $383.91. 1,727,106 shares of the company's stock traded hands, compared to its average volume of 1,070,245. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The company has a 50-day simple moving average of $375.51 and a 200-day simple moving average of $358.98. The firm has a market cap of $146.35 billion, a PE ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95.

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

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid 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 0.88%. This is a boost from Stryker's previous quarterly dividend of $0.80. Stryker's payout ratio is currently 36.01%.

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.