Stryker Co. (NYSE:SYK) is Bonness Enterprises Inc.’s 2nd Largest Position

Bonness Enterprises Inc. decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 65,616 shares of the medical technology company’s stock after selling 48 shares during the period. Stryker accounts for approximately 8.3% of Bonness Enterprises Inc.’s holdings, making the stock its 2nd biggest holding. Bonness Enterprises Inc.’s holdings in Stryker were worth $23,625,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SYK. Dunhill Financial LLC raised its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Stryker in the third quarter worth about $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the third quarter worth about $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 0.6 %

SYK stock opened at $383.91 on Tuesday. The business’s 50-day moving average is $375.51 and its 200 day moving average is $359.17. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The stock has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95. 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:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 earnings per share. On average, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Evercore ISI boosted their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company upped their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was 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 of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

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.