Stryker Co. (NYSE:SYK) Stake Reduced by Kestra Investment Management LLC

Kestra Investment Management LLC cut its holdings in Stryker Co. (NYSE:SYK) by 88.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110 shares of the medical technology company’s stock after selling 848 shares during the quarter. Kestra Investment Management LLC’s holdings in Stryker were worth $40,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC increased its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker in the 3rd quarter worth about $36,000. Activest Wealth Management purchased a new position in Stryker in the 4th quarter worth about $36,000. Crews Bank & Trust purchased a new position in Stryker in the 4th quarter worth about $39,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYK. Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lifted their target price on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Evercore ISI lifted their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Stock Down 1.0 %

Shares of Stryker stock opened at $382.59 on Friday. The firm has a market cap of $145.99 billion, a price-to-earnings ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a 50-day simple moving average of $378.07 and a 200-day simple moving average of $368.99.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the company posted $3.46 earnings per share. On average, equities research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

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.