Buckingham Capital Management Inc. Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Buckingham Capital Management Inc. lowered its stake in Stryker Co. (NYSE:SYK) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,783 shares of the medical technology company’s stock after selling 671 shares during the quarter. Stryker comprises approximately 1.5% of Buckingham Capital Management Inc.’s holdings, making the stock its 19th largest holding. Buckingham Capital Management Inc.’s holdings in Stryker were worth $13,244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Atria Wealth Solutions Inc. lifted its position in shares of Stryker by 2.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 16,607 shares of the medical technology company’s stock worth $5,987,000 after buying an additional 389 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Stryker by 2.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,789 shares of the medical technology company’s stock worth $644,000 after acquiring an additional 42 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Stryker by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 82,574 shares of the medical technology company’s stock valued at $29,731,000 after acquiring an additional 451 shares during the last quarter. Empower Advisory Group LLC boosted its position in shares of Stryker by 52.3% during the 4th quarter. Empower Advisory Group LLC now owns 1,991 shares of the medical technology company’s stock valued at $717,000 after acquiring an additional 684 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Stryker by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 65,857 shares of the medical technology company’s stock worth $23,712,000 after purchasing an additional 2,872 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $385.05 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market capitalization of $146.79 billion, a PE ratio of 49.62, a P/E/G ratio of 2.98 and a beta of 0.96. The company has a 50 day moving average price of $377.31 and a 200-day moving average price of $367.19. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm posted $3.46 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SYK shares. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. BTIG Research boosted their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Truist Financial raised their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $420.68.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

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.