Okabena Investment Services Inc. Acquires New Stake in Stryker Co. (NYSE:SYK)

Okabena Investment Services Inc. purchased a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 750 shares of the medical technology company’s stock, valued at approximately $270,000.

Several other institutional investors have also recently made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $25,000. Dunhill Financial LLC lifted its holdings in Stryker by 94.9% during 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 in the last quarter. Rakuten Securities Inc. boosted its position in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker during the 4th quarter valued at $33,000. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group increased their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial boosted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays lifted their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Trading Down 0.9 %

NYSE SYK opened at $364.38 on Friday. The stock has a market cap of $139.08 billion, a PE ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95. The company’s 50-day moving average price is $384.08 and its 200-day moving average price is $374.25. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating 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 quarter last year, the firm posted $3.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 0.92%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the business’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 transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

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.