Graney & King LLC Makes New $117,000 Investment in Stryker Co. (NYSE:SYK)

Graney & King LLC bought a new position in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 324 shares of the medical technology company’s stock, valued at approximately $117,000.

Several other hedge funds have also modified their holdings of SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker during the 4th quarter worth approximately $25,000. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Stryker in the 4th quarter worth $30,000. Finally, BankPlus Trust Department acquired a new stake in shares of Stryker during the fourth quarter worth $33,000. 77.09% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $373.00 on Wednesday. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock has a market capitalization of $142.33 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The business has a 50-day moving average of $384.76 and a 200-day moving average of $374.34.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the business posted $3.46 EPS. As a group, sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Stryker’s dividend payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SYK shares. Canaccord Genuity Group raised their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Royal Bank of Canada lifted their price target 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. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, Truist Financial boosted their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

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.