Newbridge Financial Services Group Inc. Acquires New Holdings in Stryker Co. (NYSE:SYK)

Newbridge Financial Services Group Inc. acquired a new stake in Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 144 shares of the medical technology company’s stock, valued at approximately $52,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Alhambra Investment Management LLC lifted its holdings in shares of Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after acquiring an additional 29 shares during the period. Capital & Planning LLC raised its stake in shares of Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the period. Concord Wealth Partners grew its position in shares of Stryker by 2.2% during the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock worth $503,000 after buying an additional 30 shares in the last quarter. Avestar Capital LLC grew its position in shares of 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 buying an additional 31 shares in the last quarter. Finally, Union Savings Bank grew its position in shares of Stryker by 1.0% during the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after buying an additional 31 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the subject of several recent research reports. Stifel Nicolaus upped their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada upped their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.5 %

NYSE:SYK opened at $390.52 on Wednesday. The stock has a market capitalization of $148.88 billion, a PE ratio of 50.33, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The business’s 50-day simple moving average is $377.28 and its 200-day simple moving average is $365.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

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

Stryker Announces Dividend

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

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.