Dale Q Rice Investment Management Ltd Makes New Investment in Stryker Co. (NYSE:SYK)

Dale Q Rice Investment Management Ltd bought a new stake in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,630 shares of the medical technology company’s stock, valued at approximately $587,000.

Other institutional investors have also recently made changes to their positions in the company. HBK Sorce Advisory LLC bought a new position in Stryker during the second quarter valued at $241,000. Envestnet Asset Management Inc. raised its position in Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after purchasing an additional 16,504 shares during the period. J.W. Cole Advisors Inc. lifted its stake in Stryker by 22.3% in the second quarter. J.W. Cole Advisors Inc. now owns 3,186 shares of the medical technology company’s stock worth $1,084,000 after purchasing an additional 580 shares during the last quarter. Rathbones Group PLC boosted its position in shares of Stryker by 2.8% during the second quarter. Rathbones Group PLC now owns 25,045 shares of the medical technology company’s stock valued at $8,522,000 after buying an additional 691 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Stryker by 1.2% during the second quarter. Brown Brothers Harriman & Co. now owns 5,521 shares of the medical technology company’s stock valued at $1,879,000 after buying an additional 66 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of 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 stock has a fifty day moving average price of $375.28 and a 200-day moving average price of $358.09. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market cap of $137.60 billion, a PE ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the company earned $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Truist Financial upped their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. BTIG Research boosted their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Finally, Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” 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. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $405.80.

About Stryker

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.