Pitti Group Wealth Management LLC Sells 102 Shares of Stryker Co. (NYSE:SYK)

Pitti Group Wealth Management LLC trimmed its holdings in Stryker Co. (NYSE:SYK) by 9.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 924 shares of the medical technology company’s stock after selling 102 shares during the period. Pitti Group Wealth Management LLC’s holdings in Stryker were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Parnassus Investments LLC bought a new position in shares of Stryker during the third quarter valued at about $762,798,000. Raymond James Financial Inc. bought a new position in shares of Stryker during the fourth quarter valued at about $353,394,000. Proficio Capital Partners LLC lifted its position in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after purchasing an additional 595,061 shares in the last quarter. RTW Investments LP bought a new position in shares of Stryker during the third quarter valued at about $143,392,000. Finally, State Street Corp lifted its position in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a report on Wednesday, January 29th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Price Performance

SYK stock opened at $369.96 on Monday. The firm has a 50 day moving average of $383.04 and a 200-day moving average of $373.60. 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 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market capitalization of $141.17 billion, a P/E ratio of 47.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 last year, the company earned $3.46 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given 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 yield of 0.91%. Stryker’s payout ratio is presently 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s 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 completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

About Stryker

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.