Allen Mooney & Barnes Investment Advisors LLC Purchases 86 Shares of Stryker Co. (NYSE:SYK)

Allen Mooney & Barnes Investment Advisors LLC raised its position in Stryker Co. (NYSE:SYK) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,621 shares of the medical technology company’s stock after acquiring an additional 86 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Stryker were worth $584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Fifth Third Wealth Advisors LLC increased its holdings in Stryker by 3.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,204 shares of the medical technology company’s stock valued at $1,513,000 after purchasing an additional 129 shares during the period. CCLA Investment Management increased its stake in shares of Stryker by 4.7% during the fourth quarter. CCLA Investment Management now owns 314,087 shares of the medical technology company’s stock valued at $113,099,000 after buying an additional 14,186 shares during the period. Oak Thistle LLC bought a new position in shares of Stryker during the fourth quarter valued at approximately $271,000. SeaCrest Wealth Management LLC boosted its holdings in Stryker by 6.4% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,173 shares of the medical technology company’s stock valued at $422,000 after acquiring an additional 71 shares in the last quarter. Finally, Signal Advisors Wealth LLC increased its position in Stryker by 8.8% during the 4th quarter. Signal Advisors Wealth LLC now owns 2,105 shares of the medical technology company’s stock valued at $760,000 after purchasing an additional 170 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.5 %

Shares of SYK stock opened at $362.68 on Wednesday. The stock has a market capitalization of $138.26 billion, a P/E ratio of 38.87, a P/E/G ratio of 2.82 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. The firm’s 50 day moving average is $375.13 and its 200 day moving average is $358.25. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company 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%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 earnings per share. Research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.93%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is 36.01%.

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.