Mogy Joel R Investment Counsel Inc. Raises Stake in Stryker Co. (NYSE:SYK)

Mogy Joel R Investment Counsel Inc. lifted its position in shares of Stryker Co. (NYSE:SYK) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 94,998 shares of the medical technology company’s stock after buying an additional 746 shares during the period. Stryker accounts for approximately 2.0% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 17th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Stryker were worth $34,204,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Capital Planning LLC increased its stake in shares of Stryker by 3.6% in the fourth quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the period. Alhambra Investment Management LLC raised its stake in Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after acquiring an additional 29 shares in the last quarter. Avestar Capital LLC boosted its position in Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after acquiring an additional 31 shares during the period. Union Savings Bank grew its stake in shares of Stryker by 1.0% in the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after purchasing an additional 31 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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. Robert W. Baird increased their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Shares of SYK stock opened at $383.91 on Tuesday. The company has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 2.63 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. 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 stock’s fifty day simple moving average is $375.61 and its 200-day simple moving average is $359.53.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for 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%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. On average, sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

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

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Stryker Company 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.