Delta Financial Group Inc. Acquires New Position in Stryker Co. (NYSE:SYK)

Delta Financial Group Inc. bought a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,402 shares of the medical technology company’s stock, valued at approximately $1,225,000.

Other hedge funds have also added to or reduced their stakes in the company. Dunhill Financial LLC grew its holdings in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker during the 4th quarter valued at about $30,000. Darwin Wealth Management LLC purchased a new position in Stryker during the 3rd quarter valued at about $36,000. Activest Wealth Management purchased a new position in Stryker during the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust purchased a new position in Stryker during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $382.59 on Friday. The firm has a market cap of $145.99 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business has a 50 day moving average price of $378.07 and a 200-day moving average price of $368.99.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm earned $3.46 earnings per share. Equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Ratings Changes

Several research analysts recently weighed in on SYK shares. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Canaccord Genuity Group upped their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays upped their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $422.15.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on 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 owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

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.