Foster & Motley Inc. Reduces Stake in Stryker Co. (NYSE:SYK)

Foster & Motley Inc. cut its holdings in shares of Stryker Co. (NYSE:SYKFree Report) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,899 shares of the medical technology company’s stock after selling 40 shares during the period. Foster & Motley Inc.’s holdings in Stryker were worth $684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Zhang Financial LLC lifted its position in shares of Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares during the period. Dale Q Rice Investment Management Ltd purchased a new stake in Stryker in the fourth quarter worth about $587,000. Berkshire Bank boosted its position in Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after acquiring an additional 1,030 shares in the last quarter. PFW Advisors LLC purchased a new position in shares of Stryker during the 4th quarter worth approximately $1,350,000. Finally, Traynor Capital Management Inc. bought a new position in shares of Stryker in the 4th quarter worth approximately $324,000. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. Citigroup upped their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Wednesday. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $419.37.

Check Out Our Latest Research Report on Stryker

Stryker Price Performance

SYK opened at $390.90 on Friday. The company’s 50-day simple moving average is $376.56 and its two-hundred day simple moving average is $362.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market capitalization of $149.02 billion, a P/E ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYKGet Free Report) last issued its quarterly earnings data 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 23.86%. During the same quarter in the prior year, the business earned $3.46 EPS. As a group, analysts predict that Stryker Co. will post 13.53 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is 43.30%.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Stryker Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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