Mission Wealth Management LP Increases Stake in Stryker Co. (NYSE:SYK)

Mission Wealth Management LP lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,504 shares of the medical technology company’s stock after purchasing an additional 601 shares during the period. Mission Wealth Management LP’s holdings in Stryker were worth $3,062,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker during the 4th quarter valued at about $25,000. Dunhill Financial LLC lifted its position in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $30,000. BankPlus Trust Department bought a new position in shares of Stryker in the fourth quarter worth approximately $33,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Stryker in the third quarter worth $36,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Citigroup reissued a “buy” rating and issued a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 2.2 %

Shares of NYSE SYK opened at $394.53 on Tuesday. The company has a market cap of $150.54 billion, a PE ratio of 50.84, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm’s 50 day moving average price is $381.06 and its 200-day moving average price is $371.92. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $3.46 earnings per share. On average, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business 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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

Stryker Company 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.