Courier Capital LLC Has $1.10 Million Position in Stryker Co. (NYSE:SYK)

Courier Capital LLC trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,054 shares of the medical technology company’s stock after selling 867 shares during the quarter. Courier Capital LLC’s holdings in Stryker were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dunhill Financial LLC increased its holdings in shares of 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 in the last quarter. Centennial Bank AR boosted its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker during the 3rd quarter worth $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter worth about $42,000. Finally, Hara Capital LLC bought a new position in Stryker in the third quarter valued at about $42,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 1.3 %

Shares of NYSE SYK opened at $360.96 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $137.60 billion, a PE ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95. The company’s fifty day simple moving average is $375.28 and its 200 day simple moving average is $358.09. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. Stryker’s payout ratio is currently 36.01%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research reports. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

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.