Breiter Capital Management Inc. decreased its position in shares of Stryker Co. (NYSE:SYK) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,324 shares of the medical technology company’s stock after selling 108 shares during the quarter. Stryker makes up approximately 1.4% of Breiter Capital Management Inc.’s portfolio, making the stock its 20th biggest position. Breiter Capital Management Inc.’s holdings in Stryker were worth $1,328,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC acquired a new position in shares of Stryker in the 3rd quarter valued at about $4,589,000. Granite Investment Advisors LLC lifted its stake in shares of Stryker by 0.7% in the 3rd quarter. Granite Investment Advisors LLC now owns 17,847 shares of the medical technology company’s stock valued at $3,860,000 after purchasing an additional 120 shares during the period. Synovus Financial Corp lifted its stake in shares of Stryker by 3.0% in the 3rd quarter. Synovus Financial Corp now owns 3,829 shares of the medical technology company’s stock valued at $826,000 after purchasing an additional 111 shares during the period. Bridger Capital Management LLC acquired a new position in shares of Stryker in the 3rd quarter valued at about $90,000. Finally, Hall Laurie J Trustee lifted its stake in shares of Stryker by 2.2% in the 3rd quarter. Hall Laurie J Trustee now owns 36,554 shares of the medical technology company’s stock valued at $7,907,000 after purchasing an additional 785 shares during the period. 73.24% of the stock is currently owned by institutional investors.
SYK has been the subject of a number of recent research reports. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Thursday, November 28th. Piper Sandler lowered Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price objective for the company. in a report on Tuesday, January 7th. Canaccord Genuity boosted their price objective on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BTIG Research upped their target price on Stryker from $228.00 to $236.00 and gave the company a “buy” rating in a report on Monday, December 30th. Finally, Evercore ISI raised Stryker from an “in-line” rating to an “outperform” rating in a report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $222.16.
In other news, CEO Kevin Lobo sold 19,286 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $215.71, for a total value of $4,160,183.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $206.28, for a total transaction of $962,502.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,652 shares of company stock worth $5,705,481. 7.20% of the stock is owned by company insiders.
Stryker stock opened at $216.22 on Friday. Stryker Co. has a 12 month low of $160.79 and a 12 month high of $223.45. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.64. The business’s 50 day simple moving average is $208.42 and its 200 day simple moving average is $211.30. The company has a market cap of $80.30 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.39 and a beta of 0.76.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.90 by $0.01. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the business earned $1.69 earnings per share. Stryker’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that Stryker Co. will post 8.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.575 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 30th. This represents a $2.30 annualized dividend and a yield of 1.06%. Stryker’s dividend payout ratio is presently 31.46%.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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