Cohen Capital Management Inc. Has $30.50 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Cohen Capital Management Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 84,714 shares of the medical technology company’s stock after selling 1,140 shares during the period. Stryker makes up 5.1% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Cohen Capital Management Inc.’s holdings in Stryker were worth $30,501,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Dunhill Financial LLC lifted its stake in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Stryker in the fourth quarter worth $30,000. Darwin Wealth Management LLC bought a new stake in Stryker in the third quarter worth $36,000. Activest Wealth Management bought a new stake in Stryker in the fourth quarter worth $36,000. Finally, Crews Bank & Trust bought a new stake in Stryker in the fourth quarter worth $39,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Barclays boosted their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial boosted 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. Finally, Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $422.15.

Insiders Place Their Bets

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

Stryker Price Performance

Shares of NYSE SYK opened at $382.59 on Friday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company’s 50-day moving average is $378.07 and its 200 day moving average is $368.99. The stock has a market capitalization of $145.99 billion, a P/E ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96.

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

Stryker Dividend Announcement

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

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.