Old Port Advisors Has $359,000 Holdings in Stryker Co. (NYSE:SYK)

Old Port Advisors increased its holdings in shares of Stryker Co. (NYSE:SYK) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 996 shares of the medical technology company’s stock after purchasing an additional 62 shares during the quarter. Old Port Advisors’ holdings in Stryker were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC acquired a new position in Stryker during the second quarter worth $239,000. Founders Financial Securities LLC raised its holdings in shares of Stryker by 3.2% in the 2nd quarter. Founders Financial Securities LLC now owns 3,413 shares of the medical technology company’s stock valued at $1,161,000 after purchasing an additional 106 shares during the period. Consolidated Planning Corp lifted its stake in Stryker by 7.7% in the 2nd quarter. Consolidated Planning Corp now owns 1,032 shares of the medical technology company’s stock valued at $351,000 after purchasing an additional 74 shares during the last quarter. GPM Growth Investors Inc. bought a new position in Stryker during the second quarter worth about $7,966,000. Finally, FineMark National Bank & Trust increased its position in Stryker by 12.4% during the second quarter. FineMark National Bank & Trust now owns 4,155 shares of the medical technology company’s stock worth $1,414,000 after buying an additional 459 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial raised their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Wolfe Research initiated coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Evercore ISI upped their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.4 %

Shares of NYSE SYK opened at $358.72 on Friday. Stryker Co. has a 52 week low of $292.43 and a 52 week high of $398.20. The stock’s fifty day moving average is $375.06 and its 200 day moving average is $356.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market capitalization of $136.75 billion, a P/E ratio of 38.45, a PEG ratio of 2.82 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the company earned $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

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.