Richardson Financial Services Inc. Sells 268 Shares of Stryker Co. (NYSE:SYK)

Richardson Financial Services Inc. trimmed its position in shares of Stryker Co. (NYSE:SYK) by 65.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140 shares of the medical technology company’s stock after selling 268 shares during the period. Richardson Financial Services Inc.’s holdings in Stryker were worth $51,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Centaurus Financial Inc. raised its position in shares of Stryker by 11.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,047 shares of the medical technology company’s stock worth $356,000 after acquiring an additional 106 shares in the last quarter. Czech National Bank increased its holdings in shares of Stryker by 8.1% during the third quarter. Czech National Bank now owns 69,843 shares of the medical technology company’s stock valued at $25,231,000 after acquiring an additional 5,235 shares in the last quarter. HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter worth about $42,000. GAMMA Investing LLC grew its position in Stryker by 38.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,901 shares of the medical technology company’s stock valued at $1,048,000 after purchasing an additional 810 shares during the last quarter. Finally, Diversified Trust Co increased its stake in Stryker by 5.8% during the 3rd quarter. Diversified Trust Co now owns 14,581 shares of the medical technology company’s stock valued at $5,268,000 after purchasing an additional 800 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of Stryker stock opened at $390.90 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a 50 day moving average of $376.68 and a 200 day moving average of $363.02. The firm has a market cap of $149.02 billion, a PE ratio of 50.37, a PEG ratio of 2.78 and a beta of 0.96.

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, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the firm earned $3.46 earnings per share. On average, research analysts expect that Stryker Co. will post 13.5 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYK. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. UBS Group upped their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $419.37.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by insiders.

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.