Miracle Mile Advisors LLC Acquires 716 Shares of Stryker Co. (NYSE:SYK)

Miracle Mile Advisors LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 12.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,699 shares of the medical technology company’s stock after acquiring an additional 716 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Stryker were worth $2,412,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Down 1.3 %

SYK opened at $360.96 on Tuesday. The firm has a market capitalization of $137.60 billion, a PE ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The company’s 50-day moving average is $375.28 and its 200 day moving average is $358.09.

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

Stryker Increases Dividend

The company also recently announced 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 a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. Stryker’s dividend payout ratio is presently 36.01%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.90% of the stock is owned by insiders.

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.