Stryker Co. (NYSE:SYK) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC reduced its position in Stryker Co. (NYSE:SYK) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,018 shares of the medical technology company’s stock after selling 1,110 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Stryker were worth $2,708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Norges Bank acquired a new stake in shares of Stryker in the fourth quarter valued at about $776,333,000. Moneta Group Investment Advisors LLC raised its holdings in Stryker by 109,726.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,139,948 shares of the medical technology company’s stock valued at $767,686,000 after acquiring an additional 3,137,089 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Stryker by 87,902.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after acquiring an additional 2,075,371 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Stryker in the 4th quarter worth approximately $312,539,000. Finally, Morgan Stanley boosted its holdings in shares of Stryker by 21.7% during the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen lifted their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada boosted their price target on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday. Roth Mkm raised their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. 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 research note on Wednesday, January 31st. Finally, Citigroup increased their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $340.45.

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 dated Thursday, March 7th. The stock was 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 owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $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 stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.6 %

Shares of NYSE SYK traded down $1.97 during trading on Friday, reaching $325.48. The stock had a trading volume of 983,061 shares, compared to its average volume of 1,259,539. The business’s 50-day moving average price is $350.34 and its 200-day moving average price is $312.14. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market cap of $123.84 billion, a P/E ratio of 39.54, a PEG ratio of 2.71 and a beta of 0.89.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share 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 company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the previous year, the company posted $3.00 EPS. Stryker’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm 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 $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.98%. Stryker’s dividend payout ratio 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.