Sunpointe LLC Makes New Investment in Stryker Co. (NYSE:SYK)

Sunpointe LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 789 shares of the medical technology company’s stock, valued at approximately $285,000.

A number of other institutional investors also recently modified their holdings of SYK. Whittier Trust Co. lifted its position in Stryker by 24.0% during the 3rd quarter. Whittier Trust Co. now owns 4,150 shares of the medical technology company’s stock worth $1,499,000 after acquiring an additional 804 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of Stryker by 10.0% in the third quarter. Foundations Investment Advisors LLC now owns 1,753 shares of the medical technology company’s stock valued at $633,000 after purchasing an additional 160 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Stryker by 1.7% in the third quarter. Sequoia Financial Advisors LLC now owns 11,236 shares of the medical technology company’s stock worth $4,059,000 after purchasing an additional 187 shares during the period. Eastern Bank lifted its position in shares of Stryker by 313.5% during the 3rd quarter. Eastern Bank now owns 3,730 shares of the medical technology company’s stock worth $1,347,000 after purchasing an additional 2,828 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its stake in Stryker by 83.4% during the 3rd quarter. Stanley Laman Group Ltd. now owns 1,379 shares of the medical technology company’s stock valued at $498,000 after purchasing an additional 627 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK stock opened at $388.30 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock’s fifty day simple moving average is $377.69 and its 200 day simple moving average is $368.08. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a market cap of $148.17 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 2.90 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the firm posted $3.46 EPS. On average, analysts expect that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYK shares. The Goldman Sachs Group lifted their price target on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Truist Financial boosted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

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 completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, 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. 5.90% of the stock is currently owned by corporate 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.