Daymark Wealth Partners LLC Boosts Stock Position in Stryker Corporation $SYK

Daymark Wealth Partners LLC grew its holdings in shares of Stryker Corporation (NYSE:SYKFree Report) by 436.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,863 shares of the medical technology company’s stock after buying an additional 37,307 shares during the period. Daymark Wealth Partners LLC’s holdings in Stryker were worth $16,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Clayton Financial Group LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $26,000. United Financial Planning Group LLC acquired a new stake in Stryker during the 3rd quarter worth $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker during the 2nd quarter worth $28,000. Kilter Group LLC purchased a new stake in Stryker in the second quarter valued at $29,000. Finally, Howard Hughes Medical Institute acquired a new position in Stryker in the second quarter valued at $29,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 1.3%

SYK opened at $328.35 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 12 month low of $327.21 and a 12 month high of $404.87. The stock has a market capitalization of $125.65 billion, a P/E ratio of 39.09, a P/E/G ratio of 1.94 and a beta of 0.85. The business has a 50 day simple moving average of $362.13 and a 200-day simple moving average of $364.84.

Stryker (NYSE:SYKGet Free Report) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.01 earnings per share. On average, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is presently 41.90%.

Stryker News Summary

Here are the key news stories impacting Stryker this week:

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SYK shares. The Goldman Sachs Group set a $399.00 price objective on Stryker in a report on Friday, January 9th. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a research report on Monday, January 26th. Truist Financial dropped their price target on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Needham & Company LLC lifted their price target on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.50.

Read Our Latest Stock Analysis on SYK

About Stryker

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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