Purus Wealth Management LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Purus Wealth Management LLC boosted its stake in shares of Stryker Co. (NYSE:SYKFree Report) by 6.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 714 shares of the medical technology company’s stock after acquiring an additional 44 shares during the period. Purus Wealth Management LLC’s holdings in Stryker were worth $257,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. AMI Investment Management Inc. lifted its position in shares of Stryker by 11.8% during the fourth quarter. AMI Investment Management Inc. now owns 10,345 shares of the medical technology company’s stock valued at $3,725,000 after buying an additional 1,096 shares during the last quarter. True Link Financial Advisors LLC acquired a new position in shares of Stryker during the fourth quarter worth $234,000. Trueblood Wealth Management LLC boosted its position in shares of Stryker by 10.5% in the 4th quarter. Trueblood Wealth Management LLC now owns 3,140 shares of the medical technology company’s stock worth $1,131,000 after purchasing an additional 299 shares in the last quarter. Diversify Wealth Management LLC increased its position in Stryker by 4.2% during the 4th quarter. Diversify Wealth Management LLC now owns 9,205 shares of the medical technology company’s stock valued at $3,366,000 after buying an additional 373 shares in the last quarter. Finally, Terra Nova Asset Management LLC boosted its holdings in Stryker by 0.4% in the fourth quarter. Terra Nova Asset Management LLC now owns 8,344 shares of the medical technology company’s stock worth $3,004,000 after acquiring an additional 32 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

NYSE:SYK opened at $383.91 on Monday. The firm has a market cap of $146.35 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The stock has a 50 day moving average of $375.51 and a two-hundred day moving average of $358.98. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. 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 (NYSE:SYKGet 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, beating 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 for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm posted $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Stryker’s payout ratio is presently 36.01%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYK. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Morgan Stanley raised shares of 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 report on Monday, December 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

View Our Latest Analysis on Stryker

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company’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 value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by insiders.

About Stryker

(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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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