Stryker Co. (NYSE:SYK) Shares Sold by Sandy Spring Bank

Sandy Spring Bank lessened its position in shares of Stryker Co. (NYSE:SYK) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,546 shares of the medical technology company’s stock after selling 976 shares during the quarter. Sandy Spring Bank’s holdings in Stryker were worth $8,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Royal London Asset Management Ltd. raised its stake in shares of Stryker by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 332,756 shares of the medical technology company’s stock worth $119,809,000 after buying an additional 6,004 shares during the last quarter. Algebris UK Ltd acquired a new position in shares of Stryker during the 4th quarter worth $1,203,000. Generali Investments Management Co LLC acquired a new position in shares of Stryker during the 4th quarter worth $4,345,000. GM Advisory Group LLC raised its stake in shares of Stryker by 35.7% during the 4th quarter. GM Advisory Group LLC now owns 780 shares of the medical technology company’s stock worth $281,000 after buying an additional 205 shares during the last quarter. Finally, Investment House LLC increased its position in Stryker by 0.9% during the 4th quarter. Investment House LLC now owns 39,856 shares of the medical technology company’s stock worth $14,350,000 after purchasing an additional 345 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SYK shares. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Truist Financial lifted their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Barclays lifted their price objective on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Stryker Stock Up 0.6 %

Shares of NYSE:SYK opened at $378.06 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The stock has a market capitalization of $144.26 billion, a P/E ratio of 48.72, a PEG ratio of 2.93 and a beta of 0.95. The stock has a 50-day simple moving average of $383.99 and a 200-day simple moving average of $373.85.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 previous year, the company posted $3.46 earnings per share. Equities analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

Insider Transactions at Stryker

In related news, 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 transaction, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents 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 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.