Shore Point Advisors LLC Invests $343,000 in Stryker Co. (NYSE:SYK)

Shore Point Advisors LLC bought a new position in Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 954 shares of the medical technology company's stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Edgestream Partners L.P. acquired a new stake in Stryker during the 2nd quarter valued at $369,000. AE Wealth Management LLC lifted its stake in Stryker by 101.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,414 shares of the medical technology company's stock worth $1,162,000 after acquiring an additional 1,722 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Stryker by 8.4% during the second quarter. Pacer Advisors Inc. now owns 27,438 shares of the medical technology company's stock worth $9,336,000 after purchasing an additional 2,122 shares during the period. Sei Investments Co. increased its stake in Stryker by 4.0% in the 2nd quarter. Sei Investments Co. now owns 168,336 shares of the medical technology company's stock valued at $57,271,000 after buying an additional 6,443 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Stryker by 69.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 87,244 shares of the medical technology company's stock valued at $29,685,000 after buying an additional 35,833 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of a number of research reports. Truist Financial upped their price target 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. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $405.80.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the 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 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 SEC, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE SYK traded up $2.12 during trading on Monday, hitting $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 52 week low of $307.23 and a 52 week high of $398.20. The firm has a market cap of $146.35 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The firm has a 50 day moving average price of $375.51 and a 200 day moving average price of $359.17. 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 (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 firm had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 EPS. Equities research analysts forecast that Stryker Co. will post 12.06 earnings per share 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 given a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Stryker's dividend payout ratio (DPR) is 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.