Peterson Wealth Services Buys 255 Shares of Stryker Co. (NYSE:SYK)

Peterson Wealth Services boosted its stake in shares of Stryker Co. (NYSE:SYK) by 2.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,098 shares of the medical technology company’s stock after purchasing an additional 255 shares during the quarter. Stryker makes up about 1.6% of Peterson Wealth Services’ investment portfolio, making the stock its 20th biggest position. Peterson Wealth Services’ holdings in Stryker were worth $3,623,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Quarry LP acquired a new stake in Stryker in the first quarter worth about $27,000. Freedom Wealth Alliance LLC acquired a new stake in Stryker in the fourth quarter worth about $26,000. HBC Financial Services PLLC acquired a new stake in Stryker in the fourth quarter worth about $37,000. Finally, Bourgeon Capital Management LLC acquired a new stake in Stryker in the fourth quarter worth about $37,000. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK traded down $5.09 during trading on Thursday, reaching $330.94. The stock had a trading volume of 384,501 shares, compared to its average volume of 1,239,017. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The business has a fifty day moving average price of $350.57 and a 200-day moving average price of $312.03. The stock has a market cap of $125.91 billion, a PE ratio of 40.73, a PEG ratio of 2.72 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 earnings per share. On average, equities analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is currently 38.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a report on Wednesday, January 31st. Roth Mkm raised their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Truist Financial raised their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. TD Cowen raised their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Citigroup raised their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.45.

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.