Stryker Co. (NYSE:SYK) Stake Lessened by Moreno Evelyn V

Moreno Evelyn V trimmed its position in shares of Stryker Co. (NYSE:SYK) by 69.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,891 shares of the medical technology company’s stock after selling 22,027 shares during the quarter. Stryker comprises about 1.4% of Moreno Evelyn V’s holdings, making the stock its 20th biggest position. Moreno Evelyn V’s holdings in Stryker were worth $2,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of 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 worth $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP purchased a new stake in shares of Stryker during the fourth quarter worth $30,000. HBC Financial Services PLLC bought a new position in Stryker during the fourth quarter valued at about $37,000. Bourgeon Capital Management LLC bought a new position in Stryker during the fourth quarter valued at about $37,000. Finally, Operose Advisors LLC raised its holdings in Stryker by 308.6% during the third quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker 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 completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SYK shares. Robert W. Baird raised their target price on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. UBS Group lifted their target price on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI lifted their target price on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and lifted their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, Truist Financial lifted their target price on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $367.32.

Stryker Trading Down 0.3 %

SYK stock traded down $0.90 during trading on Thursday, hitting $334.52. The company had a trading volume of 290,976 shares, compared to its average volume of 1,325,587. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $340.69 and a 200-day moving average price of $323.38. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The stock has a market cap of $127.44 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.60 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the company posted $2.14 EPS. Stryker’s revenue was up 9.7% on a year-over-year basis. As a group, analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is presently 36.53%.

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.