Condor Capital Management Sells 178 Shares of Stryker Co. (NYSE:SYK)

Condor Capital Management cut its holdings in shares of Stryker Co. (NYSE:SYK) by 1.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,296 shares of the medical technology company’s stock after selling 178 shares during the period. Condor Capital Management’s holdings in Stryker were worth $4,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SYK. Raymond James Financial Inc. bought a new stake in Stryker during the fourth quarter valued at about $353,394,000. Proficio Capital Partners LLC raised its holdings in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. RTW Investments LP bought a new stake in Stryker during the third quarter valued at about $143,392,000. State Street Corp raised its holdings in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the period. Finally, FMR LLC raised its holdings in Stryker by 3.0% during 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 acquiring an additional 215,782 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Stryker stock opened at $378.06 on Thursday. The company has a 50 day moving average price of $383.99 and a 200-day moving average price of $373.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a market capitalization of $144.26 billion, a PE ratio of 48.72, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $3.46 earnings per share. As a group, equities analysts forecast 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. Investors of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SYK. Canaccord Genuity Group raised their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $421.90.

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.