Stack Financial Management Inc Sells 1,337 Shares of Stryker Co. (NYSE:SYK)

Stack Financial Management Inc decreased its position in shares of Stryker Co. (NYSE:SYK) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,991 shares of the medical technology company’s stock after selling 1,337 shares during the quarter. Stryker makes up 2.5% of Stack Financial Management Inc’s holdings, making the stock its 12th largest holding. Stack Financial Management Inc’s holdings in Stryker were worth $22,457,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SYK. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. HBC Financial Services PLLC purchased a new stake in shares of Stryker during the fourth quarter valued at about $37,000. Bourgeon Capital Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $37,000. Venturi Wealth Management LLC grew its position in shares of Stryker by 97.1% in the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock worth $41,000 after buying an additional 67 shares during the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in Stryker by 40.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 140 shares of the medical technology company’s stock valued at $42,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK traded up $0.74 on Friday, hitting $337.89. 375,471 shares of the company’s stock traded hands, compared to its average volume of 1,275,314. 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 1-year low of $249.98 and a 1-year high of $361.41. The firm’s 50-day moving average price is $349.16 and its two-hundred day moving average price is $314.40. The firm has a market capitalization of $128.56 billion, a PE ratio of 40.86, a P/E/G ratio of 2.71 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the business posted $3.00 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’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 completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related 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 value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on SYK shares. Truist Financial lifted their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. TD Cowen increased their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. 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 research report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Finally, Evercore ISI boosted their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $340.67.

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.