Marcum Wealth LLC Sells 40 Shares of Stryker Co. (NYSE:SYK)

Marcum Wealth LLC cut its stake in Stryker Co. (NYSE:SYK) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 872 shares of the medical technology company’s stock after selling 40 shares during the period. Marcum Wealth LLC’s holdings in Stryker were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SYK. Brown Brothers Harriman & Co. increased its stake in shares of Stryker by 1.2% in the second quarter. Brown Brothers Harriman & Co. now owns 5,521 shares of the medical technology company’s stock valued at $1,879,000 after buying an additional 66 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Stryker by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock worth $267,725,000 after buying an additional 97,160 shares during the last quarter. Luts & Greenleigh Group Inc. acquired a new position in shares of Stryker during the 2nd quarter worth about $565,000. Primecap Management Co. CA grew its position in shares of Stryker by 0.3% during the 2nd quarter. Primecap Management Co. CA now owns 447,500 shares of the medical technology company’s stock worth $152,262,000 after buying an additional 1,400 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Stryker in the 2nd quarter valued at about $369,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 0.5 %

SYK stock opened at $362.68 on Wednesday. The company has a market cap of $138.26 billion, a price-to-earnings ratio of 38.87, a P/E/G ratio of 2.82 and a beta of 0.95. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The business has a 50 day moving average price of $375.13 and a two-hundred day moving average price of $358.25. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

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

Stryker Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on SYK. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Truist Financial raised their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by company 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.