Tandem Capital Management Corp ADV decreased its position in shares of Stryker Co. (NYSE:SYK – Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,984 shares of the medical technology company’s stock after selling 444 shares during the period. Stryker makes up approximately 2.9% of Tandem Capital Management Corp ADV’s holdings, making the stock its 7th largest holding. Tandem Capital Management Corp ADV’s holdings in Stryker were worth $5,395,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SYK. Dunhill Financial LLC grew its stake in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Stryker during the 3rd quarter worth approximately $36,000. Crews Bank & Trust purchased a new position in Stryker in the 4th quarter worth approximately $39,000. Hara Capital LLC bought a new stake in Stryker in the third quarter valued at approximately $42,000. Finally, Grove Bank & Trust boosted its stake in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Institutional investors own 77.09% of the company’s stock.
Stryker Trading Down 0.1 %
Shares of NYSE SYK opened at $390.97 on Tuesday. The business has a fifty day moving average price of $376.68 and a 200 day moving average price of $363.22. 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 stock has a market capitalization of $149.05 billion, a P/E ratio of 50.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96.
Stryker Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.84 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio is currently 43.30%.
Analyst Ratings Changes
SYK has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Canaccord Genuity Group boosted their price target on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Wednesday, January 29th. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $419.37.
View Our Latest Stock Analysis on SYK
Insider Buying and Selling
In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. 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 dated 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 sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
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.
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