Stryker Co. (NYSE:SYK) Shares Bought by Paradiem LLC

Paradiem LLC raised its stake in Stryker Co. (NYSE:SYK) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,310 shares of the medical technology company’s stock after purchasing an additional 111 shares during the period. Stryker comprises 3.1% of Paradiem LLC’s investment portfolio, making the stock its 16th biggest position. Paradiem LLC’s holdings in Stryker were worth $11,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Daymark Wealth Partners LLC raised its position in Stryker by 1.9% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,589 shares of the medical technology company’s stock valued at $2,372,000 after purchasing an additional 122 shares in the last quarter. Luts & Greenleigh Group Inc. raised its position in shares of Stryker by 2.5% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 1,711 shares of the medical technology company’s stock worth $616,000 after acquiring an additional 42 shares in the last quarter. Albion Financial Group UT raised its position in shares of Stryker by 112.7% during the 4th quarter. Albion Financial Group UT now owns 638 shares of the medical technology company’s stock worth $230,000 after acquiring an additional 338 shares in the last quarter. Advisory Alpha LLC raised its position in shares of Stryker by 7.6% during the 4th quarter. Advisory Alpha LLC now owns 2,901 shares of the medical technology company’s stock worth $1,045,000 after acquiring an additional 206 shares in the last quarter. Finally, Dakota Wealth Management raised its position in shares of Stryker by 7.6% during the 4th quarter. Dakota Wealth Management now owns 27,065 shares of the medical technology company’s stock worth $9,749,000 after acquiring an additional 1,913 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $425.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

NYSE SYK opened at $390.31 on Thursday. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The stock has a market cap of $148.79 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. The business has a fifty day moving average of $375.78 and a 200-day moving average of $359.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings results 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 return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.

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.