Stryker Co. (NYSE:SYK) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,564 shares of the medical technology company’s stock after selling 57 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Stryker were worth $563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Two Point Capital Management Inc. boosted its holdings in Stryker by 1.1% during the 3rd quarter. Two Point Capital Management Inc. now owns 21,833 shares of the medical technology company’s stock valued at $7,887,000 after acquiring an additional 245 shares during the period. Forte Capital LLC ADV boosted its holdings in Stryker by 1.8% during the 3rd quarter. Forte Capital LLC ADV now owns 5,407 shares of the medical technology company’s stock valued at $1,953,000 after acquiring an additional 93 shares during the period. Blake Schutter Theil Wealth Advisors LLC purchased a new position in Stryker during the 3rd quarter valued at about $402,000. Principal Financial Group Inc. boosted its holdings in Stryker by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock valued at $143,934,000 after acquiring an additional 23,329 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in Stryker by 1.9% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 8,084 shares of the medical technology company’s stock valued at $2,920,000 after acquiring an additional 152 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SYK shares. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group boosted their target price on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Barclays boosted their target price on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $422.15.

Stryker Stock Down 3.5 %

SYK opened at $381.86 on Friday. The business’s fifty day moving average is $382.21 and its two-hundred day moving average is $372.52. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market cap of $145.71 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 2.93 and a beta of 0.96. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the business earned $3.46 EPS. Analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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 given a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker 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.