Alpha Cubed Investments LLC Buys 425 Shares of Stryker Co. (NYSE:SYK)

Alpha Cubed Investments LLC lifted its stake in Stryker Co. (NYSE:SYK) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,225 shares of the medical technology company’s stock after acquiring an additional 425 shares during the period. Alpha Cubed Investments LLC’s holdings in Stryker were worth $666,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in Stryker by 1.3% during the fourth quarter. Brighton Jones LLC now owns 3,722 shares of the medical technology company’s stock valued at $1,114,000 after buying an additional 46 shares during the period. Mission Wealth Management LP boosted its stake in Stryker by 12.4% during 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 period. Penobscot Investment Management Company Inc. boosted its stake in Stryker by 2.8% during 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 buying an additional 1,082 shares during the period. Kestra Private Wealth Services LLC boosted its stake in 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 valued at $5,396,000 after buying an additional 2,527 shares during the period. Finally, Ledyard National Bank boosted its stake in Stryker by 8.8% during the fourth 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. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 0.4 %

Shares of NYSE:SYK opened at $335.00 on Wednesday. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a market cap of $127.46 billion, a PE ratio of 40.77, a P/E/G ratio of 2.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The stock’s 50-day moving average is $348.44 and its 200 day moving average is $316.70.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 EPS. Sell-side analysts anticipate that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.96%. Stryker’s payout ratio is 38.79%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred 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 sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred 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 sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SYK has been the subject of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research note on Wednesday. Royal Bank of Canada raised their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. TD Cowen raised their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Truist Financial lifted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $347.62.

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.