TruWealth Advisors LLC Has $694,000 Holdings in Stryker Co. (NYSE:SYK)

TruWealth Advisors LLC grew its stake in Stryker Co. (NYSE:SYK) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,927 shares of the medical technology company’s stock after purchasing an additional 128 shares during the period. TruWealth Advisors LLC’s holdings in Stryker were worth $694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Parnassus Investments LLC acquired a new position in shares of Stryker in the third quarter valued at $762,798,000. International Assets Investment Management LLC raised its stake in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares in the last quarter. RTW Investments LP acquired a new position in shares of Stryker in the 3rd quarter valued at $143,392,000. State Street Corp boosted its position in shares of Stryker by 2.2% during 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 acquiring an additional 316,404 shares in the last quarter. Finally, FMR LLC increased its stake in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.50% of the company’s stock.

Stryker Price Performance

SYK opened at $383.91 on Friday. The company has a fifty day moving average price of $375.51 and a two-hundred day moving average price of $358.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market capitalization of $146.35 billion, a PE ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. As a group, analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SYK. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 target price 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker 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.