Brophy Wealth Management LLC Invests $1.03 Million in Stryker Co. (NYSE:SYK)

Brophy Wealth Management LLC acquired a new position in shares of Stryker Co. (NYSE:SYK - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,844 shares of the medical technology company's stock, valued at approximately $1,027,000.

A number of other large investors also recently modified their holdings of SYK. State Street Corp lifted its stake in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. FMR LLC lifted its stake in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock valued at $790,554,000 after purchasing an additional 66,482 shares during the last quarter. Parnassus Investments LLC acquired a new stake in Stryker in the 3rd quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC lifted its stake in Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company's stock valued at $711,594,000 after purchasing an additional 28,421 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company's stock, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of Stryker 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 of the company's stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 over the last quarter. Insiders own 5.50% of the company's stock.

Stryker Trading Up 0.5 %

Shares of NYSE:SYK traded up $1.76 during mid-day trading on Tuesday, reaching $382.87. 1,281,748 shares of the company's stock were exchanged, compared to its average volume of 1,262,002. The firm has a market capitalization of $145.96 billion, a price-to-earnings ratio of 41.02, a PEG ratio of 2.90 and a beta of 0.94. The business's fifty day moving average price is $371.49 and its 200-day moving average price is $354.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20.

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

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is an increase from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio (DPR) is currently 34.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Stryker from $370.00 to $380.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC lifted their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a "buy" rating in a research note 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 data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $398.40.

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.