Stryker Co. (NYSE:SYK) Shares Sold by Kelleher Financial Advisors

Kelleher Financial Advisors decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 885 shares of the medical technology company’s stock after selling 90 shares during the period. Kelleher Financial Advisors’ holdings in Stryker were worth $319,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SYK. 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 worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. FMR LLC increased its holdings in Stryker by 3.0% in 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 buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC increased its holdings in Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new stake in shares of Stryker in the third quarter valued at approximately $762,798,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYK. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Down 1.4 %

SYK stock opened at $390.31 on Thursday. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a market capitalization of $148.79 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. The firm’s 50-day moving average is $375.78 and its two-hundred day moving average is $359.94. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm earned $2.46 EPS. Stryker’s revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This is an increase 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%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

About Stryker

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.