Simplify Asset Management Inc. Cuts Holdings in Stryker Co. (NYSE:SYK)

Simplify Asset Management Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 33.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,206 shares of the medical technology company’s stock after selling 606 shares during the period. Simplify Asset Management Inc.’s holdings in Stryker were worth $434,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $25,000. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. raised its position in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC bought a new stake in Stryker in the fourth quarter worth $30,000. Finally, BankPlus Trust Department purchased a new stake in Stryker during the fourth quarter valued at about $33,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $371.38 on Friday. The stock has a market capitalization of $141.71 billion, a price-to-earnings ratio of 47.86, a PEG ratio of 2.93 and a beta of 0.95. 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 business’s fifty day moving average price is $384.28 and its 200-day moving average price is $374.03.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 last year, the company posted $3.46 earnings per share. On average, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Activity at Stryker

In related news, 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 in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYK. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Royal Bank of Canada boosted their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Truist Financial raised their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker 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.