Fifth Third Bancorp Increases Stake in Stryker Co. (NYSE:SYK)

Fifth Third Bancorp raised its holdings in shares of Stryker Co. (NYSE:SYK) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 89,407 shares of the medical technology company’s stock after acquiring an additional 845 shares during the quarter. Fifth Third Bancorp’s holdings in Stryker were worth $32,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC raised its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR increased its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $36,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker in the 3rd quarter worth $42,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.1 %

SYK stock opened at $394.08 on Friday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The stock has a market capitalization of $150.23 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $376.11 and its two-hundred day simple moving average is $360.81.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm 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 of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. UBS Group boosted 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. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated 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 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. 5.90% of the stock is currently owned by corporate insiders.

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.