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

Traveka Wealth LLC increased its position in Stryker Co. (NYSE:SYK) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 821 shares of the medical technology company’s stock after acquiring an additional 42 shares during the period. Traveka Wealth LLC’s holdings in Stryker were worth $296,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Avestar Capital LLC grew its holdings in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after acquiring an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares during the period. Grimes & Company Inc. lifted its holdings in shares of Stryker by 0.4% in the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after purchasing an additional 33 shares in the last quarter. Moran Wealth Management LLC lifted its stake in Stryker by 0.4% in the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after acquiring an additional 34 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in shares of Stryker by 0.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 7,547 shares of the medical technology company’s stock worth $2,719,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 1.3 %

Shares of NYSE:SYK opened at $360.96 on Tuesday. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The firm has a market cap of $137.60 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $375.28 and its two-hundred day moving average price is $358.09.

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

Stryker Increases Dividend

The business also recently declared 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. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.