Stryker Co. (NYSE:SYK) Shares Bought by Annex Advisory Services LLC

Annex Advisory Services LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 63.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,549 shares of the medical technology company's stock after purchasing an additional 5,235 shares during the quarter. Annex Advisory Services LLC's holdings in Stryker were worth $4,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in 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 buying an additional 37 shares during the last quarter. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter worth approximately $36,000. Hara Capital LLC purchased a new stake in Stryker in the third quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC acquired a new position in Stryker during the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Up 0.6 %

SYK traded up $2.12 on Monday, reaching $383.91. The company's stock had a trading volume of 1,727,106 shares, compared to its average volume of 1,070,245. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The business's 50 day moving average is $375.51 and its 200 day moving average is $359.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results 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. The company had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. As a group, research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal 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 given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. This is an increase from Stryker's previous quarterly dividend of $0.80. Stryker's payout ratio is presently 36.01%.

Insider Activity

In related 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 transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYK. Canaccord Genuity Group boosted their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler reissued 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. Truist Financial raised their price objective on Stryker from $380.00 to $409.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $405.80.

Stryker Company 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.