Quantum Private Wealth LLC Trims Stock Position in Stryker Co. (NYSE:SYK)

Quantum Private Wealth LLC cut its position in Stryker Co. (NYSE:SYK) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,092 shares of the medical technology company’s stock after selling 53 shares during the quarter. Quantum Private Wealth LLC’s holdings in Stryker were worth $327,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares in the last quarter. Morgan Stanley raised its position in shares of Stryker by 21.7% during the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock valued at $1,461,753,000 after buying an additional 1,066,751 shares in the last quarter. FMR LLC lifted its holdings in shares of Stryker by 2.5% during the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after acquiring an additional 144,208 shares during the last quarter. Geode Capital Management LLC grew its position in Stryker by 2.0% in the first quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock worth $1,695,169,000 after acquiring an additional 117,786 shares in the last quarter. Finally, Northern Trust Corp raised its position in Stryker by 3.9% during the third quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock valued at $957,974,000 after purchasing an additional 131,590 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and upped their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. TD Cowen increased their price target on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Truist Financial increased their target price on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.22.

Insiders Place Their Bets

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 over the last three months. Company insiders own 5.50% of the company’s stock.

Stryker Trading Down 0.4 %

Shares of SYK stock traded down $1.47 during trading hours on Wednesday, reaching $337.66. The company’s stock had a trading volume of 1,239,358 shares, compared to its average volume of 925,865. 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 one year low of $249.98 and a one year high of $361.41. The stock has a market capitalization of $128.47 billion, a P/E ratio of 40.91, a P/E/G ratio of 2.73 and a beta of 0.89. The firm’s fifty day simple moving average is $350.70 and its 200 day simple moving average is $311.86.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share 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 business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the business posted $3.00 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

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

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.