Stryker Co. (NYSE:SYK) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its stake in shares of Stryker Co. (NYSE:SYK) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,152 shares of the medical technology company’s stock after selling 932 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Stryker were worth $2,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SYK. Dunhill Financial LLC increased its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the 3rd quarter valued at approximately $36,000. Activest Wealth Management acquired a new position in Stryker during the 4th quarter valued at approximately $36,000. Crews Bank & Trust acquired a new position in Stryker during the 4th quarter valued at approximately $39,000. Finally, Hara Capital LLC acquired a new position in Stryker during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Evercore ISI upped their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup increased their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.68.

Stryker Stock Performance

SYK opened at $385.44 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a market cap of $147.08 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 2.90 and a beta of 0.96. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The firm’s fifty day simple moving average is $377.44 and its two-hundred day simple moving average is $367.94.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the business earned $3.46 earnings per share. Equities analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.50% 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.