Twin Capital Management Inc. Lowers Position in Stryker Co. (NYSE:SYK)

Twin Capital Management Inc. cut its stake in shares of Stryker Co. (NYSE:SYK) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,512 shares of the medical technology company’s stock after selling 189 shares during the period. Twin Capital Management Inc.’s holdings in Stryker were worth $2,549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Freedom Wealth Alliance LLC bought a new stake in Stryker during the fourth quarter valued at about $26,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Quarry LP bought a new stake in Stryker during the first quarter valued at about $27,000. HBC Financial Services PLLC bought a new stake in Stryker during the fourth quarter valued at about $37,000. Finally, Bourgeon Capital Management LLC bought a new stake in Stryker during the fourth quarter valued at about $37,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SYK. Royal Bank of Canada raised their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company raised their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Evercore ISI lifted their target price on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Canaccord Genuity Group raised 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. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.45.

Insider Buying and Selling at Stryker

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 value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Stryker Trading Down 2.3 %

NYSE SYK traded down $7.79 during trading hours on Thursday, hitting $328.24. 815,277 shares of the company were exchanged, compared to its average volume of 1,245,402. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The stock has a 50-day moving average price of $350.57 and a 200 day moving average price of $312.03. The stock has a market cap of $124.89 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.89. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

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

Stryker Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

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.