Stryker Co. (NYSE:SYK) Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc lowered its stake in shares of Stryker Co. (NYSE:SYK) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 74,991 shares of the medical technology company’s stock after selling 1,337 shares during the quarter. Stryker makes up about 2.5% of Stack Financial Management Inc’s portfolio, making the stock its 12th largest position. Stack Financial Management Inc’s holdings in Stryker were worth $22,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA increased its position in 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 in the last quarter. HBC Financial Services PLLC acquired a new stake in Stryker during the 4th quarter worth approximately $37,000. Bourgeon Capital Management LLC acquired a new stake in Stryker during the 4th quarter worth approximately $37,000. Operose Advisors LLC increased its position in Stryker by 308.6% during the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 108 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in 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 acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 over the last ninety days. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

SYK traded up $0.74 during trading hours on Friday, hitting $337.89. 375,471 shares of the stock were exchanged, compared to its average volume of 1,275,314. The stock has a 50-day simple moving average of $349.16 and a 200-day simple moving average of $314.40. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The stock has a market cap of $128.56 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SYK. Wells Fargo & Company upped their price target on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Roth Mkm upped their price target on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and upped their price target for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Royal Bank of Canada upped their price target on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, TD Cowen upped their price target on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $340.67.

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.