Regent Peak Wealth Advisors LLC Invests $204,000 in Stryker Co. (NYSE:SYK)

Regent Peak Wealth Advisors LLC bought a new stake in shares of Stryker Co. (NYSE:SYK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 567 shares of the medical technology company’s stock, valued at approximately $204,000.

Other large investors have also recently made changes to their positions in the company. Parnassus Investments LLC purchased a new position in Stryker in the third quarter valued at $762,798,000. International Assets Investment Management LLC grew its position in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the period. RTW Investments LP purchased a new position in shares of Stryker in the 3rd quarter valued at about $143,392,000. State Street Corp increased its position in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $383.91 on Tuesday. The firm has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. The company has a 50 day moving average price of $375.51 and a 200 day moving average price of $359.17. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on SYK. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Truist Financial upped their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Citigroup lifted their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

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.