SeaCrest Wealth Management LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

SeaCrest Wealth Management LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,173 shares of the medical technology company’s stock after buying an additional 71 shares during the period. SeaCrest Wealth Management LLC’s holdings in Stryker were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC lifted its stake in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares during the period. Finally, Parnassus Investments LLC purchased a new position in Stryker in the 3rd quarter valued at approximately $762,798,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of analyst reports. Truist Financial raised their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. JMP Securities restated a “market perform” rating 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 upped their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 target price on shares of Stryker in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Stryker Trading Up 3.4 %

NYSE SYK opened at $381.32 on Friday. 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 stock’s 50-day simple moving average is $375.12 and its two-hundred day simple moving average is $358.32. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a market capitalization of $145.36 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. Research analysts forecast that Stryker Co. will post 12.06 EPS 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 paid a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio is 36.01%.

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.