Neo Ivy Capital Management Sells 1,672 Shares of Stryker Co. (NYSE:SYK)

Neo Ivy Capital Management trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 62.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,002 shares of the medical technology company’s stock after selling 1,672 shares during the period. Neo Ivy Capital Management’s holdings in Stryker were worth $360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYK. Norges Bank bought a new stake in shares of Stryker in the fourth quarter worth about $1,710,744,000. Raymond James Financial Inc. bought a new position in Stryker during the fourth quarter valued at approximately $353,394,000. FMR LLC grew its holdings in Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after buying an additional 595,061 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SYK shares. Truist Financial increased their target price on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Canaccord Genuity Group increased their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Barclays lifted their price objective 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. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $427.30.

Stryker Stock Performance

SYK stock opened at $377.01 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a market cap of $143.90 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a 50-day simple moving average of $368.06 and a two-hundred day simple moving average of $376.05.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 earnings per share. On average, equities analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s payout ratio is 45.41%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is owned by company insiders.

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.