Confluence Investment Management LLC Sells 7,086 Shares of Stryker Corporation $SYK

Confluence Investment Management LLC cut its holdings in Stryker Corporation (NYSE:SYK) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,287 shares of the medical technology company’s stock after selling 7,086 shares during the period. Confluence Investment Management LLC owned about 0.06% of Stryker worth $77,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Stryker in the 2nd quarter worth about $205,000. Intech Investment Management LLC grew its position in Stryker by 8.7% during the second quarter. Intech Investment Management LLC now owns 5,977 shares of the medical technology company’s stock valued at $2,365,000 after buying an additional 477 shares during the period. Empowered Funds LLC increased its holdings in Stryker by 43.9% during the second quarter. Empowered Funds LLC now owns 12,491 shares of the medical technology company’s stock worth $4,942,000 after buying an additional 3,813 shares during the last quarter. Finally, United Advisor Group LLC increased its holdings in Stryker by 20.7% during the second quarter. United Advisor Group LLC now owns 710 shares of the medical technology company’s stock worth $281,000 after buying an additional 122 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by insiders.

Stryker Price Performance

SYK opened at $339.97 on Friday. The firm has a 50-day moving average price of $363.89 and a 200-day moving average price of $366.43. Stryker Corporation has a twelve month low of $328.23 and a twelve month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $130.10 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 2.02 and a beta of 0.85.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.01 EPS. Equities analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio is currently 41.90%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Robert W. Baird set a $437.00 price objective on Stryker in a report on Friday, January 30th. Finally, Sanford C. Bernstein raised their target price on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $427.50.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.