Main Street Research LLC Cuts Holdings in Stryker Co. (NYSE:SYK)

Main Street Research LLC lessened its position in shares of Stryker Co. (NYSE:SYK) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,046 shares of the medical technology company’s stock after selling 60 shares during the quarter. Main Street Research LLC’s holdings in Stryker were worth $738,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker during the 4th quarter worth about $25,000. Dunhill Financial LLC lifted its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Stryker during the fourth quarter worth approximately $30,000. BankPlus Trust Department acquired a new stake in shares of Stryker in the fourth quarter worth $33,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Stryker in the 3rd quarter valued at $36,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Stryker Trading Down 0.8 %

NYSE:SYK opened at $379.28 on Monday. The company has a market cap of $144.73 billion, a PE ratio of 48.88, a P/E/G ratio of 2.93 and a beta of 0.95. The business’s 50 day moving average is $382.45 and its two-hundred day moving average is $373.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 quarter in the previous year, the firm earned $3.46 EPS. On average, analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Royal Bank of Canada upped their price target on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Argus set a $450.00 target price on Stryker in a report on Monday, February 3rd. Wells Fargo & Company upped their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial increased their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Company 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.