Exchange Traded Concepts LLC Increases Stock Position in Stryker Co. (NYSE:SYK)

Exchange Traded Concepts LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,263 shares of the medical technology company’s stock after purchasing an additional 1,002 shares during the period. Exchange Traded Concepts LLC’s holdings in Stryker were worth $2,255,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SYK. Dunhill Financial LLC boosted its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR boosted its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker in the 3rd quarter worth about $36,000. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter valued at approximately $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker during the 3rd quarter worth $42,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.1 %

Stryker stock opened at $394.08 on Monday. 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 50 day moving average price of $376.11 and a 200 day moving average price of $360.98. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The company has a market capitalization of $150.23 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

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

Analyst Ratings Changes

SYK has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

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.