Everence Capital Management Inc. Acquires 1,690 Shares of Stryker Co. (NYSE:SYK)

Everence Capital Management Inc. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,570 shares of the medical technology company’s stock after purchasing an additional 1,690 shares during the quarter. Everence Capital Management Inc.’s holdings in Stryker were worth $3,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Dunhill Financial LLC grew its position in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker in the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker during the 3rd quarter valued at $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Up 0.7 %

Shares of SYK stock traded up $2.47 during mid-day trading on Friday, hitting $361.19. 214,150 shares of the stock traded hands, compared to its average volume of 522,114. Stryker Co. has a 52-week low of $292.96 and a 52-week high of $398.20. The stock has a market cap of $137.69 billion, a P/E ratio of 38.71, a P/E/G ratio of 2.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock’s fifty day moving average is $375.06 and its two-hundred day moving average is $356.96.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.93%. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is 36.01%.

Analysts Set New Price Targets

SYK has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial increased their price objective on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

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.