Stryker Co. (NYSE:SYK) Shares Sold by Professional Advisory Services Inc.

Professional Advisory Services Inc. reduced its position in shares of Stryker Co. (NYSE:SYK) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,017 shares of the medical technology company’s stock after selling 2,241 shares during the period. Stryker accounts for about 3.0% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 17th largest position. Professional Advisory Services Inc.’s holdings in Stryker were worth $21,225,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SYK. Elefante Mark B purchased a new position in shares of Stryker during the 4th quarter worth about $337,000. Appleton Partners Inc. MA lifted its holdings in shares of Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after acquiring an additional 1,400 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Stryker by 10.2% during the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after acquiring an additional 1,561 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Stryker by 415.8% during the 4th quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock worth $8,664,000 after acquiring an additional 19,356 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Stryker by 0.5% during the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after acquiring an additional 976 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.3%

SYK opened at $384.15 on Friday. The firm has a market capitalization of $146.63 billion, a P/E ratio of 49.50, a P/E/G ratio of 2.93 and a beta of 0.91. The firm’s 50 day moving average is $370.10 and its 200-day moving average is $375.96. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company earned $2.50 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is currently 45.41%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Truist Financial lifted their price target on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $427.30.

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.