Stonebridge Capital Management Inc. Sells 175 Shares of Stryker Co. (NYSE:SYK)

Stonebridge Capital Management Inc. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,535 shares of the medical technology company’s stock after selling 175 shares during the period. Stryker accounts for 3.8% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 6th largest position. Stonebridge Capital Management Inc.’s holdings in Stryker were worth $9,194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Dimensional Fund Advisors LP boosted its holdings in Stryker by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock worth $267,725,000 after buying an additional 97,160 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Stryker by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 447,500 shares of the medical technology company’s stock valued at $152,262,000 after acquiring an additional 1,400 shares during the period. Edgestream Partners L.P. bought a new position in Stryker during the 2nd quarter worth approximately $369,000. Axxcess Wealth Management LLC grew its holdings in Stryker by 1.8% during the second quarter. Axxcess Wealth Management LLC now owns 5,167 shares of the medical technology company’s stock valued at $1,758,000 after purchasing an additional 93 shares during the period. Finally, Argent Trust Co increased its stake in Stryker by 11.7% in the second quarter. Argent Trust Co now owns 6,918 shares of the medical technology company’s stock valued at $2,354,000 after purchasing an additional 722 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of recent analyst reports. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. Finally, Truist Financial upped their price target on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Shares of SYK opened at $368.09 on Thursday. The company has a market cap of $140.32 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The firm has a 50-day moving average of $375.13 and a 200-day moving average of $358.25. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.91%. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

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.