Victory Capital Management Inc. Decreases Position in Stryker Co. (NYSE:SYK)

Victory Capital Management Inc. decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,790 shares of the medical technology company’s stock after selling 13,032 shares during the quarter. Victory Capital Management Inc.’s holdings in Stryker were worth $54,292,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker during the fourth quarter worth approximately $25,000. Dunhill Financial LLC increased its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the period. Centricity Wealth Management LLC acquired a new position in Stryker during the fourth quarter worth approximately $30,000. BankPlus Trust Department acquired a new position in Stryker during the fourth quarter worth approximately $33,000. Finally, Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus set a $450.00 target price on Stryker in a report on Monday, February 3rd. Wells Fargo & Company boosted their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup reissued a “buy” rating and issued a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $422.15.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.8 %

SYK opened at $379.28 on Friday. The business’s fifty day moving average is $382.45 and its two-hundred day moving average is $372.78. 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 cap of $144.73 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 2.93 and a beta of 0.96. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping 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 in the prior year, the business earned $3.46 EPS. Analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio is currently 43.30%.

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.