Stryker Co. (NYSE:SYK) Shares Sold by Wolff Financial Management LLC

Wolff Financial Management LLC decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,952 shares of the medical technology company’s stock after selling 27 shares during the period. Stryker makes up about 0.9% of Wolff Financial Management LLC’s portfolio, making the stock its 20th biggest holding. Wolff Financial Management LLC’s holdings in Stryker were worth $3,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board lifted its stake in shares of Stryker by 79.0% in the second quarter. Public Sector Pension Investment Board now owns 12,579 shares of the medical technology company’s stock worth $4,280,000 after acquiring an additional 5,553 shares in the last quarter. AXA S.A. boosted its stake in shares of Stryker by 11.0% during the 2nd quarter. AXA S.A. now owns 91,054 shares of the medical technology company’s stock valued at $30,981,000 after buying an additional 9,052 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Stryker by 9.7% during the second quarter. AQR Capital Management LLC now owns 125,333 shares of the medical technology company’s stock worth $42,485,000 after buying an additional 11,075 shares in the last quarter. APG Asset Management N.V. raised its holdings in Stryker by 2.2% in the second quarter. APG Asset Management N.V. now owns 223,007 shares of the medical technology company’s stock valued at $70,798,000 after acquiring an additional 4,902 shares in the last quarter. Finally, MBB Public Markets I LLC boosted its stake in Stryker by 1,823.6% during the 2nd quarter. MBB Public Markets I LLC now owns 24,257 shares of the medical technology company’s stock valued at $8,253,000 after acquiring an additional 22,996 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial upped their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value 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 approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $394.08 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $376.03 and its 200 day moving average price is $360.39. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The firm has a market cap of $150.23 billion, a P/E ratio of 42.24, a PEG ratio of 2.68 and a beta of 0.95.

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

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

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.