Apriem Advisors Trims Stock Position in Stryker Co. (NYSE:SYK)

Apriem Advisors trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 6,705 shares of the medical technology company’s stock after selling 298 shares during the period. Apriem Advisors’ holdings in Stryker were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centricity Wealth Management LLC purchased a new position in Stryker during the 4th quarter worth $30,000. BankPlus Trust Department acquired a new stake in shares of Stryker in the 4th quarter worth $33,000. Darwin Wealth Management LLC purchased a new stake in shares of Stryker in the third quarter valued at about $36,000. Finally, Activest Wealth Management acquired a new position in shares of Stryker during the fourth quarter worth about $36,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup restated a “buy” rating and issued a $450.00 price objective on shares of Stryker in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Stock Performance

NYSE SYK opened at $391.54 on Thursday. The business’s 50-day moving average price is $379.42 and its 200 day moving average price is $370.37. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a market capitalization of $149.40 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the company posted $3.46 EPS. On average, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s dividend payout ratio is presently 43.30%.

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.