Fulton Breakefield Broenniman LLC lifted its position in shares of Stryker Co. (NYSE:SYK) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,146 shares of the medical technology company’s stock after purchasing an additional 145 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Stryker were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC bought a new position in Stryker during the 3rd quarter worth $35,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Stryker during the second quarter worth $39,000. Evoke Wealth LLC bought a new stake in shares of Stryker in the third quarter valued at about $42,000. Horan Capital Advisors LLC. bought a new stake in shares of Stryker in the third quarter valued at about $43,000. Finally, Institutional & Family Asset Management LLC grew its stake in shares of Stryker by 169.3% in the third quarter. Institutional & Family Asset Management LLC now owns 202 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 73.16% of the company’s stock.
SYK has been the topic of a number of recent research reports. Robert W. Baird raised their price target on shares of Stryker from $239.00 to $242.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI raised shares of Stryker from an “in-line” rating to an “outperform” rating in a report on Thursday, January 2nd. Piper Sandler lowered shares of Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Tuesday, January 7th. Barclays cut shares of Stryker from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $226.00 to $207.00 in a report on Tuesday, November 5th. Finally, BTIG Research lifted their price target on shares of Stryker from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, December 30th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $222.16.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.01. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.58 billion. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 EPS. As a group, equities analysts expect that Stryker Co. will post 8.23 earnings per share for the current fiscal year.
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 paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from Stryker’s previous quarterly dividend of $0.52. This represents a $2.30 annualized dividend and a yield of 1.11%. Stryker’s dividend payout ratio is presently 31.46%.
In other news, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction on Monday, November 18th. The stock was sold at an average price of $206.28, for a total value of $962,502.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Lobo sold 19,286 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $215.71, for a total value of $4,160,183.06. The disclosure for this sale can be found here. Insiders have sold 31,318 shares of company stock valued at $6,706,338 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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