Relyea Zuckerberg Hanson LLC Grows Stake in Stryker Co. (NYSE:SYK)

Relyea Zuckerberg Hanson LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,583 shares of the medical technology company’s stock after purchasing an additional 91 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Stryker were worth $930,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Dunhill Financial LLC increased its position in Stryker by 94.9% in the third 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 grew its stake 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 purchased a new stake in Stryker during the third quarter valued at about $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC bought a new stake in Stryker during the 3rd quarter valued at $42,000. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SYK shares. Truist Financial boosted their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Citigroup lifted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group boosted their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Shares of Stryker stock traded up $0.11 during trading on Friday, hitting $381.90. 320,922 shares of the company’s stock traded hands, compared to its average volume of 1,239,618. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The business has a 50-day simple moving average of $375.12 and a 200-day simple moving average of $358.32. 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 capitalization of $145.59 billion, a P/E ratio of 40.96, a PEG ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for 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 firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. As a group, analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is a boost 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%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

Insiders Place Their Bets

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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.50% 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.