Baxter Bros Inc. Decreases Stake in Stryker Co. (NYSE:SYK)

Baxter Bros Inc. decreased its position in Stryker Co. (NYSE:SYK) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,007 shares of the medical technology company’s stock after selling 400 shares during the period. Baxter Bros Inc.’s holdings in Stryker were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Blue Fin Capital Inc. boosted its holdings in shares of Stryker by 2.0% in the 4th quarter. Blue Fin Capital Inc. now owns 9,598 shares of the medical technology company’s stock valued at $2,874,000 after acquiring an additional 185 shares during the last quarter. Legacy Financial Advisors Inc. purchased a new stake in Stryker in the 4th quarter worth approximately $227,000. Sapient Capital LLC purchased a new stake in shares of Stryker during the 4th quarter worth about $1,563,000. Axxcess Wealth Management LLC grew its holdings in Stryker by 296.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 4,931 shares of the medical technology company’s stock valued at $1,477,000 after purchasing an additional 3,686 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its stake in shares of Stryker by 3.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 4,950 shares of the medical technology company’s stock worth $1,482,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.6 %

Stryker stock traded up $1.82 during mid-day trading on Friday, hitting $328.45. The company had a trading volume of 1,589,424 shares, compared to its average volume of 1,415,127. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $346.99 and a 200 day moving average of $317.29. The stock has a market cap of $125.12 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.56 and a beta of 0.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

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

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. Evercore ISI lifted their target price on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and increased their price objective for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Truist Financial upped their price target on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Finally, Barclays upped their target price on Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $365.94.

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.