Canvas Wealth Advisors LLC Raises Stake in Stryker Co. (NYSE:SYK)

Canvas Wealth Advisors LLC increased its stake in Stryker Co. (NYSE:SYK) by 4.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,859 shares of the medical technology company’s stock after acquiring an additional 78 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Stryker were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Dunhill Financial LLC increased its position in shares of 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 acquiring an additional 37 shares during the period. Darwin Wealth Management LLC purchased a new position in Stryker during the 3rd quarter worth $36,000. Activest Wealth Management bought a new stake in Stryker during the 4th quarter valued at $36,000. Crews Bank & Trust purchased a new stake in shares of Stryker in the 4th quarter worth $39,000. Finally, Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter worth $42,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 1.2 %

SYK stock opened at $391.42 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market capitalization of $149.22 billion, a PE ratio of 50.44, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The firm has a 50 day moving average of $377.23 and a 200 day moving average of $364.97.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the company earned $3.46 earnings per share. Sell-side analysts forecast that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Truist Financial upped their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Stifel Nicolaus lifted their price objective on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group lifted their price target on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $419.37.

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.