Fifth Third Wealth Advisors LLC Has $1.51 Million Holdings in Stryker Co. (NYSE:SYK)

Fifth Third Wealth Advisors LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 3.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,204 shares of the medical technology company’s stock after acquiring an additional 129 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Stryker were worth $1,513,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dale Q Rice Investment Management Ltd bought a new position in shares of Stryker during the fourth quarter valued at $587,000. Parnassus Investments LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $762,798,000. PFW Advisors LLC bought a new position in Stryker during the 4th quarter valued at about $1,350,000. Baltimore Washington Financial Advisors Inc. boosted its position in Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock valued at $24,089,000 after buying an additional 1,554 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its stake in Stryker by 8.0% during the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 1.5 %

NYSE SYK opened at $368.09 on Thursday. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The stock has a 50-day simple moving average of $375.13 and a 200 day simple moving average of $358.25. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $140.32 billion, a PE ratio of 39.45, a P/E/G ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the business posted $2.46 EPS. Stryker’s revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. Stryker’s payout ratio is 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on SYK shares. BTIG Research boosted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Robert W. Baird increased their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.