Brighton Jones LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Brighton Jones LLC lifted its position in Stryker Co. (NYSE:SYK) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,722 shares of the medical technology company’s stock after purchasing an additional 46 shares during the quarter. Brighton Jones LLC’s holdings in Stryker were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Mission Wealth Management LP raised its holdings in shares of Stryker by 12.4% in the fourth quarter. Mission Wealth Management LP now owns 2,078 shares of the medical technology company’s stock valued at $622,000 after buying an additional 229 shares during the last quarter. Penobscot Investment Management Company Inc. increased its holdings in shares of Stryker by 2.8% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 40,075 shares of the medical technology company’s stock valued at $12,001,000 after purchasing an additional 1,082 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Stryker by 16.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,020 shares of the medical technology company’s stock worth $5,396,000 after purchasing an additional 2,527 shares during the period. Ledyard National Bank increased its stake in Stryker by 8.8% in the 4th quarter. Ledyard National Bank now owns 1,881 shares of the medical technology company’s stock valued at $563,000 after buying an additional 152 shares during the period. Finally, Choreo LLC lifted its stake in shares of Stryker by 533.0% in the 4th quarter. Choreo LLC now owns 5,874 shares of the medical technology company’s stock worth $1,759,000 after acquiring an additional 4,946 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

SYK stock opened at $328.14 on Thursday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market cap of $124.85 billion, a PE ratio of 37.46, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The stock has a 50-day moving average price of $348.05 and a two-hundred day moving average price of $316.78.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.44% and a net margin of 16.03%. Stryker’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 EPS. As a group, research analysts predict that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler boosted their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday. Roth Mkm lifted their price target on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Evercore ISI upped their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Four 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.05.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by insiders.

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.