CapWealth Advisors LLC Sells 351 Shares of Stryker Co. (NYSE:SYK)

CapWealth Advisors LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,966 shares of the medical technology company’s stock after selling 351 shares during the quarter. CapWealth Advisors LLC’s holdings in Stryker were worth $11,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. OLD Second National Bank of Aurora raised its position in shares of Stryker by 0.9% in the 4th quarter. OLD Second National Bank of Aurora now owns 8,188 shares of the medical technology company’s stock valued at $2,452,000 after buying an additional 75 shares in the last quarter. Peterson Wealth Services increased its position in Stryker by 2.2% during the 4th quarter. Peterson Wealth Services now owns 12,098 shares of the medical technology company’s stock worth $3,623,000 after purchasing an additional 255 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Stryker by 3.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,979 shares of the medical technology company’s stock worth $3,295,000 after purchasing an additional 322 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Stryker by 7.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 34,107 shares of the medical technology company’s stock worth $10,214,000 after purchasing an additional 2,468 shares in the last quarter. Finally, Oakworth Capital Inc. increased its position in Stryker by 1.7% during the 4th quarter. Oakworth Capital Inc. now owns 5,908 shares of the medical technology company’s stock worth $1,769,000 after purchasing an additional 100 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK stock traded down $3.99 during trading hours on Thursday, reaching $332.04. The stock had a trading volume of 660,557 shares, compared to its average volume of 1,244,342. The stock’s fifty day simple moving average is $350.57 and its 200 day simple moving average is $312.03. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The firm has a market capitalization of $126.33 billion, a PE ratio of 40.73, a PEG ratio of 2.72 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. Stryker’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $3.00 earnings per share. On average, equities research analysts predict that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. Stryker’s dividend payout ratio is currently 38.79%.

Insider Activity at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 in the last three months. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and boosted their target price for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Truist Financial boosted their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Roth Mkm boosted their target price on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company upped their price objective on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.45.

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.