Obermeyer Wealth Partners Takes Position in Stryker Co. (NYSE:SYK)

Obermeyer Wealth Partners acquired a new stake in Stryker Co. (NYSE:SYK) during the fourth quarter, HoldingsChannel reports. The firm acquired 2,657 shares of the medical technology company’s stock, valued at approximately $957,000.

Several other hedge funds have also made changes to their positions in the business. MayTech Global Investments LLC raised its stake in Stryker by 10.0% during the 4th quarter. MayTech Global Investments LLC now owns 41,116 shares of the medical technology company’s stock valued at $14,804,000 after acquiring an additional 3,749 shares during the last quarter. Meridiem Capital Partners LP purchased a new stake in shares of Stryker during the fourth quarter worth approximately $5,900,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Stryker by 1.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,503 shares of the medical technology company’s stock valued at $21,784,000 after buying an additional 754 shares during the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new position in Stryker in the 4th quarter valued at $483,000. Finally, Guardian Wealth Advisors LLC NC lifted its stake in shares of Stryker by 28.5% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 1,164 shares of the medical technology company’s stock worth $419,000 after acquiring an additional 258 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYK. Wells Fargo & Company raised their price target on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a report on Monday, May 5th. Royal Bank of Canada upped their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $427.05.

Insider Buying and Selling

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 1.9%

SYK stock opened at $387.97 on Tuesday. The company has a market cap of $148.08 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 2.93 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $365.31 and a 200-day simple moving average of $374.73. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.50 earnings per share. On average, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio is presently 45.41%.

About Stryker

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.