Sonora Investment Management LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 26.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359 shares of the medical technology company’s stock after selling 130 shares during the period. Sonora Investment Management LLC’s holdings in Stryker were worth $88,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of SYK. IFM Investors Pty Ltd grew its stake in shares of Stryker by 17.1% during the 4th quarter. IFM Investors Pty Ltd now owns 32,565 shares of the medical technology company’s stock valued at $7,980,000 after buying an additional 4,756 shares during the period. M. Kraus & Co purchased a new stake in shares of Stryker during the 4th quarter valued at $206,000. Tandem Investment Advisors Inc. grew its stake in shares of Stryker by 9.3% during the 4th quarter. Tandem Investment Advisors Inc. now owns 138,808 shares of the medical technology company’s stock valued at $34,013,000 after buying an additional 11,849 shares during the period. Pinnacle Financial Partners Inc. grew its stake in shares of Stryker by 1.3% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 5,180 shares of the medical technology company’s stock valued at $1,248,000 after buying an additional 67 shares during the period. Finally, McGuire Investment Group LLC boosted its position in Stryker by 0.5% during the 4th quarter. McGuire Investment Group LLC now owns 55,599 shares of the medical technology company’s stock worth $13,624,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 71.02% of the company’s stock.
Shares of Stryker stock traded up $3.99 on Wednesday, hitting $243.20. The company had a trading volume of 628,445 shares, compared to its average volume of 1,094,967. The business has a 50-day simple moving average of $237.83 and a 200-day simple moving average of $212.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.91 and a quick ratio of 2.12. The company has a market cap of $91.39 billion, a PE ratio of 57.77, a PEG ratio of 3.71 and a beta of 0.78. Stryker Co. has a 52 week low of $124.54 and a 52 week high of $247.44.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, December 31st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.04%. This is a boost from Stryker’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, December 30th. Stryker’s dividend payout ratio (DPR) is presently 30.51%.
A number of brokerages recently weighed in on SYK. BTIG Research upped their price target on shares of Stryker from $234.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, December 31st. Smith Barney Citigroup boosted their price objective on shares of Stryker from $232.00 to $240.00 in a report on Friday, October 30th. Truist boosted their price objective on shares of Stryker from $210.00 to $245.00 in a report on Wednesday, January 6th. Robert W. Baird boosted their price objective on shares of Stryker from $243.00 to $258.00 and gave the stock an “outperform” rating in a report on Thursday, November 12th. Finally, Morgan Stanley boosted their price objective on shares of Stryker from $225.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, December 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $225.92.
In related news, COO Timothy J. Scannell sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 23rd. The shares were sold at an average price of $232.61, for a total value of $1,163,050.00. Also, CFO Glenn S. Boehnlein sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $239.10, for a total transaction of $478,200.00. Following the completion of the sale, the chief financial officer now owns 14,321 shares of the company’s stock, valued at approximately $3,424,151.10. The disclosure for this sale can be found here. Insiders have sold 17,697 shares of company stock valued at $4,168,737 over the last 90 days. 6.80% of the stock is currently owned by insiders.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices that are used in various medical specialties.
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