NovaPoint Capital LLC Invests $1.06 Million in Stryker Corporation $SYK

NovaPoint Capital LLC acquired a new stake in Stryker Corporation (NYSE:SYK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,857 shares of the medical technology company’s stock, valued at approximately $1,056,000.

A number of other hedge funds have also recently bought and sold shares of SYK. Mid American Wealth Advisory Group Inc. bought a new position in shares of Stryker during the 2nd quarter valued at about $26,000. Clayton Financial Group LLC acquired a new stake in Stryker during the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker during the second quarter valued at approximately $28,000. Sachetta LLC boosted its holdings in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after buying an additional 27 shares in the last quarter. Finally, Kilter Group LLC acquired a new position in Stryker in the second quarter worth approximately $29,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SYK shares. Redburn Partners set a $420.00 price objective on Stryker in a research report on Thursday, September 18th. Rothschild Redb raised Stryker to a “hold” rating in a research report on Thursday, September 18th. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research note on Friday, December 19th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $431.84.

Insider Activity

In other news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 522,118 shares of company stock worth $185,381,932 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.2%

Shares of Stryker stock opened at $354.20 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a market cap of $135.45 billion, a P/E ratio of 46.54, a P/E/G ratio of 2.51 and a beta of 0.89. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $363.78 and a 200 day moving average price of $376.49.

Stryker (NYSE:SYK) last issued its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.87 EPS. As a group, analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) is 44.15%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.