Clark & Stuart Inc Acquires Shares of 14,821 Stryker Co. (NYSE:SYK)

Clark & Stuart Inc acquired a new position in Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,821 shares of the medical technology company's stock, valued at approximately $5,348,000. Stryker accounts for approximately 3.9% of Clark & Stuart Inc's investment portfolio, making the stock its 9th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Main Street Financial Solutions LLC increased its holdings in shares of Stryker by 19.8% during the second quarter. Main Street Financial Solutions LLC now owns 709 shares of the medical technology company's stock valued at $241,000 after acquiring an additional 117 shares in the last quarter. Federated Hermes Inc. increased its stake in Stryker by 16.2% during the 2nd quarter. Federated Hermes Inc. now owns 113,916 shares of the medical technology company's stock valued at $38,760,000 after purchasing an additional 15,882 shares in the last quarter. HBK Sorce Advisory LLC purchased a new position in Stryker in the second quarter worth about $241,000. Parallel Advisors LLC lifted its stake in shares of Stryker by 2.0% in the second quarter. Parallel Advisors LLC now owns 15,311 shares of the medical technology company's stock worth $5,209,000 after buying an additional 300 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Stryker by 11.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,282 shares of the medical technology company's stock valued at $12,005,000 after buying an additional 3,765 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Truist Financial upped their target price on shares of Stryker from $380.00 to $409.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and an average target price of $405.80.

Stryker Price Performance

Shares of NYSE SYK traded down $4.70 during mid-day trading on Monday, reaching $360.96. The company's stock had a trading volume of 1,400,602 shares, compared to its average volume of 1,302,026. The stock has a fifty day moving average of $375.40 and a two-hundred day moving average of $357.95. The firm has a market capitalization of $137.60 billion, a PE ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the firm posted $2.46 EPS. The company's revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed 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. This is a positive change from Stryker's previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. Stryker's dividend payout ratio (DPR) is presently 36.01%.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company's stock.

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.