Chicago Partners Investment Group LLC Buys 877 Shares of Stryker Co. (NYSE:SYK)

Chicago Partners Investment Group LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 31.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,647 shares of the medical technology company’s stock after acquiring an additional 877 shares during the period. Chicago Partners Investment Group LLC’s holdings in Stryker were worth $1,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Zhang Financial LLC lifted its stake in Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in shares of Stryker in the fourth quarter worth $587,000. Berkshire Bank boosted its stake in Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after buying an additional 1,030 shares during the period. PFW Advisors LLC purchased a new position in Stryker during the fourth quarter worth about $1,350,000. Finally, Traynor Capital Management Inc. bought a new position in Stryker in the 4th quarter worth about $324,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were 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 owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $390.90 on Monday. 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 $149.02 billion, a P/E ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The firm has a 50-day moving average of $376.68 and a 200-day moving average of $363.02.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 earnings per share. Sell-side analysts expect that Stryker Co. will post 13.53 EPS for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, December 31st. Stryker’s payout ratio is presently 43.30%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SYK shares. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Evercore ISI boosted their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, UBS Group raised their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $419.37.

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.