LGT Group Foundation Sells 4,928 Shares of Stryker Co. (NYSE:SYK)

LGT Group Foundation lowered its position in Stryker Co. (NYSE:SYK) by 37.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,344 shares of the medical technology company’s stock after selling 4,928 shares during the quarter. LGT Group Foundation’s holdings in Stryker were worth $2,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bremer Bank National Association grew its stake in Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after purchasing an additional 34 shares in the last quarter. Simon Quick Advisors LLC boosted its position in Stryker by 3.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after acquiring an additional 34 shares in the last quarter. Consolidated Portfolio Review Corp boosted its position in Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 34 shares in the last quarter. MBL Wealth LLC boosted its position in Stryker by 4.6% during the 4th quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock valued at $255,000 after acquiring an additional 37 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in Stryker by 30.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 163 shares of the medical technology company’s stock valued at $45,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $328.45 on Friday. The stock has a 50-day simple moving average of $347.52 and a two-hundred day simple moving average of $316.85. The firm has a market capitalization of $125.12 billion, a P/E ratio of 37.49, a PEG ratio of 2.55 and a beta of 0.91. 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 0.56, a quick ratio of 0.97 and a current ratio of 1.71.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $2.14 EPS. On average, equities analysts forecast that Stryker Co. will post 11.94 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’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 directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated 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 sale, 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. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and increased their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Evercore ISI increased their target price on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. TD Cowen increased their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Citigroup increased their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.94.

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.