White Pine Capital LLC Cuts Holdings in Stryker Co. (NYSE:SYK)

White Pine Capital LLC reduced its position in Stryker Co. (NYSE:SYK) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,040 shares of the medical technology company’s stock after selling 100 shares during the quarter. White Pine Capital LLC’s holdings in Stryker were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SYK. Strategic Blueprint LLC increased its holdings in Stryker by 39.8% in the 3rd quarter. Strategic Blueprint LLC now owns 980 shares of the medical technology company’s stock valued at $268,000 after purchasing an additional 279 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Stryker by 10.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 820 shares of the medical technology company’s stock valued at $224,000 after purchasing an additional 76 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Stryker by 1.3% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 4,767 shares of the medical technology company’s stock valued at $1,303,000 after purchasing an additional 63 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Stryker by 2.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 6,797 shares of the medical technology company’s stock valued at $1,857,000 after purchasing an additional 151 shares in the last quarter. Finally, Private Asset Management Inc. increased its holdings in Stryker by 2.3% in the 3rd quarter. Private Asset Management Inc. now owns 2,400 shares of the medical technology company’s stock valued at $656,000 after purchasing an additional 55 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK traded down $1.54 during mid-day trading on Friday, reaching $335.61. 1,063,790 shares of the company’s stock traded hands, compared to its average volume of 1,108,426. The business’s 50-day moving average price is $348.88 and its 200-day moving average price is $315.16. The stock has a market capitalization of $127.69 billion, a P/E ratio of 40.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the company posted $3.00 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker’s payout ratio is 38.79%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SYK shares. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and increased their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Truist Financial lifted their price target on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Wells Fargo & Company lifted their price target on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, Evercore ISI lifted their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.67.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock valued at $72,845,768 over the last quarter. Corporate insiders own 5.90% 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.