Luts & Greenleigh Group Inc. Grows Stake in Stryker Co. (NYSE:SYK)

Luts & Greenleigh Group Inc. lifted its position in Stryker Co. (NYSE:SYK – Free Report) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,711 shares of the medical technology company’s stock after buying an additional 42 shares during the period. Luts & Greenleigh Group Inc.’s holdings in Stryker were worth $616,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC increased its stake in Stryker by 94.9% in 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 last quarter. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% during 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 position in shares of Stryker in the third quarter worth approximately $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 Stryker during the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SYK shares. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $405.80.

Read Our Latest Stock Analysis on SYK

Stryker Stock Performance

Shares of SYK stock opened at $395.86 on Wednesday. The company’s fifty day moving average price is $375.78 and its 200-day moving average price is $359.94. The stock has a market cap of $150.91 billion, a PE ratio of 42.43, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20.

Stryker (NYSE:SYK – Get Free Report) last announced 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 business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. 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%. Stryker’s payout ratio is presently 36.01%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% of the company’s stock.

Stryker Company Profile

(Free Report)

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.

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