Masso Torrence Wealth Management Inc. Buys New Shares in Stryker Co. (NYSE:SYK)

Masso Torrence Wealth Management Inc. purchased a new position in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,427 shares of the medical technology company’s stock, valued at approximately $874,000.

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

Stryker Trading Down 0.7 %

NYSE:SYK opened at $392.25 on Wednesday. Stryker Co. has a 12-month low of $314.05 and a 12-month high of $406.19. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $376.44 and its 200-day simple moving average is $361.98. The firm has a market cap of $149.53 billion, a P/E ratio of 42.07, a PEG ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period in the previous year, the company posted $3.46 EPS. Equities analysts anticipate that Stryker Co. will post 12.06 EPS 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 given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SYK shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. Citigroup boosted their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Wednesday. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $412.55.

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.