NewEdge Wealth LLC Reduces Stock Position in Stryker Co. (NYSE:SYK)

NewEdge Wealth LLC cut its holdings in Stryker Co. (NYSE:SYK) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972 shares of the medical technology company’s stock after selling 39 shares during the period. NewEdge Wealth LLC’s holdings in Stryker were worth $591,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH boosted its holdings in Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after purchasing an additional 952 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after buying an additional 191 shares in the last quarter. DNB Asset Management AS grew its position in shares of Stryker by 5.7% in the 4th quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after buying an additional 4,143 shares during the last quarter. LGT Capital Partners LTD. grew its position in shares of Stryker by 24.4% in the 4th quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock valued at $130,264,000 after buying an additional 85,240 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC raised its stake in Stryker by 50.6% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 9,595 shares of the medical technology company’s stock worth $2,879,000 after acquiring an additional 3,225 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 0.5 %

Stryker stock opened at $337.54 on Wednesday. The stock’s 50 day moving average price is $350.70 and its 200 day moving average price is $311.86. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a market cap of $128.42 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 2.73 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 issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping 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 company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period in the previous year, the firm earned $3.00 EPS. The business’s revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the firm’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 value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction 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 company’s 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 owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Roth Mkm increased their price objective on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a report on Wednesday, January 31st. Finally, Evercore ISI increased their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.22.

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.