Janney Montgomery Scott LLC Buys 948 Shares of Stryker Co. (NYSE:SYK)

Janney Montgomery Scott LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,638 shares of the medical technology company’s stock after purchasing an additional 948 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Stryker were worth $20,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Manhattan West Asset Management LLC lifted its position in shares of Stryker by 29.1% during the 3rd quarter. Manhattan West Asset Management LLC now owns 1,230 shares of the medical technology company’s stock valued at $324,000 after acquiring an additional 277 shares during the period. Annex Advisory Services LLC lifted its holdings in shares of Stryker by 4.5% in the third quarter. Annex Advisory Services LLC now owns 1,589 shares of the medical technology company’s stock worth $434,000 after buying an additional 69 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Stryker by 8.0% in the third quarter. Wealthfront Advisers LLC now owns 37,257 shares of the medical technology company’s stock worth $10,181,000 after buying an additional 2,771 shares in the last quarter. Centerpoint Advisors LLC lifted its position in Stryker by 16.7% during the third quarter. Centerpoint Advisors LLC now owns 1,750 shares of the medical technology company’s stock valued at $478,000 after purchasing an additional 250 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of Stryker by 7.3% during the 3rd quarter. New Mexico Educational Retirement Board now owns 17,609 shares of the medical technology company’s stock valued at $4,812,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SYK. Stifel Nicolaus increased their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird increased their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial increased their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research note on Wednesday, May 1st. Finally, Citigroup increased their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $365.94.

Stryker Stock Up 0.5 %

Shares of SYK stock traded up $1.54 on Thursday, reaching $333.53. 345,605 shares of the company’s stock traded hands, compared to its average volume of 1,330,552. The company has a market capitalization of $127.06 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The business’s 50 day moving average price is $343.14 and its two-hundred day moving average price is $321.25.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $2.14 EPS. On average, equities analysts forecast that Stryker Co. will post 11.94 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. Stryker’s dividend payout ratio is 36.53%.

Insider Activity at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Stryker 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.