Nichols & Pratt Advisers LLP MA Cuts Stake in Stryker Co. (NYSE:SYK)

Nichols & Pratt Advisers LLP MA lowered its stake in shares of Stryker Co. (NYSE:SYK) by 1.2% in the fourth quarter, Holdings Channel reports. The firm owned 52,325 shares of the medical technology company’s stock after selling 633 shares during the period. Stryker accounts for about 1.1% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 27th largest position. Nichols & Pratt Advisers LLP MA’s holdings in Stryker were worth $15,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares during the period. Rogco LP acquired a new position in shares of Stryker in the 4th quarter worth approximately $30,000. HBC Financial Services PLLC acquired a new position in shares of Stryker in the 4th quarter worth approximately $37,000. Bourgeon Capital Management LLC acquired a new position in shares of Stryker in the 4th quarter worth approximately $37,000. Finally, Operose Advisors LLC lifted its holdings in shares of Stryker by 308.6% in the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYK. Truist Financial upped their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. BTIG Research increased their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a report on Wednesday, May 1st. Royal Bank of Canada increased their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, UBS Group increased their price objective on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $365.94.

Stryker Stock Performance

Shares of SYK stock traded down $0.53 during mid-day trading on Friday, hitting $330.33. The stock had a trading volume of 382,156 shares, compared to its average volume of 1,316,786. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company’s 50-day simple moving average is $345.24 and its 200-day simple moving average is $318.99. The firm has a market cap of $125.84 billion, a PE ratio of 37.78, a PEG ratio of 2.54 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the business earned $2.14 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 11.94 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is currently 36.53%.

About Stryker

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.