Aspen Investment Management Inc Boosts Stake in Stryker Co. (NYSE:SYK)

Aspen Investment Management Inc boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,647 shares of the medical technology company’s stock after acquiring an additional 133 shares during the period. Aspen Investment Management Inc’s holdings in Stryker were worth $1,673,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SYK. Chicago Capital LLC increased its holdings in shares of Stryker by 3.1% during the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after acquiring an additional 5,841 shares in the last quarter. Zhang Financial LLC increased its position in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after buying an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA increased its holdings in Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after acquiring an additional 1,400 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in Stryker during the 4th quarter worth approximately $587,000. Finally, Berkshire Bank lifted its holdings in Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped their price objective on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $420.68.

Stryker Trading Down 0.5 %

NYSE:SYK opened at $386.47 on Friday. The firm has a 50-day simple moving average of $377.92 and a 200-day simple moving average of $368.21. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a market cap of $147.47 billion, a P/E ratio of 49.80, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the business earned $3.46 earnings per share. Equities analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is 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.