Stryker Co. (NYSE:SYK) Stock Position Trimmed by Tufton Capital Management

Tufton Capital Management cut its position in Stryker Co. (NYSE:SYK) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,005 shares of the medical technology company’s stock after selling 85 shares during the quarter. Tufton Capital Management’s holdings in Stryker were worth $301,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in shares of Stryker during the 1st quarter worth about $131,000. Dimensional Fund Advisors LP grew its stake in shares of Stryker by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after purchasing an additional 9,026 shares during the last quarter. Prudential PLC acquired a new position in shares of Stryker in the 1st quarter worth approximately $1,444,000. Sequoia Financial Advisors LLC grew its position in Stryker by 21.6% during the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock valued at $817,000 after purchasing an additional 543 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in Stryker by 9.2% during the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock valued at $839,000 after purchasing an additional 265 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 1.1 %

Shares of Stryker stock traded down $3.56 on Thursday, hitting $332.47. The company had a trading volume of 595,526 shares, compared to its average volume of 1,242,503. The firm has a market capitalization of $126.49 billion, a P/E ratio of 40.73, a P/E/G ratio of 2.72 and a beta of 0.89. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The stock has a 50-day moving average of $350.57 and a 200-day moving average of $312.03.

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

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is currently 38.79%.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction 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 directly owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on SYK shares. Wells Fargo & Company lifted their target price on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Citigroup boosted their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada upped their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a report on Wednesday, January 31st. Finally, Truist Financial raised their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $340.45.

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.