Stryker Co. (NYSE:SYK) Shares Sold by Eads & Heald Wealth Management

Eads & Heald Wealth Management cut its stake in shares of Stryker Co. (NYSE:SYK) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,555 shares of the medical technology company’s stock after selling 120 shares during the quarter. Stryker makes up 1.5% of Eads & Heald Wealth Management’s portfolio, making the stock its 10th largest holding. Eads & Heald Wealth Management’s holdings in Stryker were worth $3,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Parnassus Investments LLC acquired a new stake in shares of Stryker in the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC lifted its position in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the period. RTW Investments LP bought a new position in Stryker during the 3rd quarter valued at $143,392,000. State Street Corp increased its position in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. Finally, FMR LLC lifted its holdings in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SYK. BTIG Research boosted their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays increased their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Wells Fargo & Company increased their price objective on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Up 3.2 %

Stryker stock opened at $395.86 on Wednesday. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. 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 stock has a market cap of $150.91 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.63 and a beta of 0.95. The company’s fifty day simple moving average is $375.61 and its 200-day simple moving average is $359.53.

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

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio is currently 36.01%.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

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.