Hartford Investment Management Co. Has $6.82 Million Holdings in Stryker Co. (NYSE:SYK)

Hartford Investment Management Co. cut its holdings in Stryker Co. (NYSE:SYK) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,781 shares of the medical technology company’s stock after selling 388 shares during the quarter. Hartford Investment Management Co.’s holdings in Stryker were worth $6,822,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Keybank National Association OH boosted its stake in Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after buying an additional 952 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after buying an additional 191 shares in the last quarter. DNB Asset Management AS boosted its stake in Stryker by 5.7% in the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after buying an additional 4,143 shares in the last quarter. Hunter Perkins Capital Management LLC boosted its stake in shares of Stryker by 50.6% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 9,595 shares of the medical technology company’s stock valued at $2,879,000 after purchasing an additional 3,225 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its stake in shares of Stryker by 24.4% during the fourth quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock valued at $130,264,000 after purchasing an additional 85,240 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYK. Truist Financial lifted their price target on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Wells Fargo & Company lifted their target price on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a report on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and upped their price target for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $333.62.

Stryker Stock Up 0.8 %

NYSE SYK traded up $2.65 during midday trading on Wednesday, hitting $352.03. 358,183 shares of the company traded hands, compared to its average volume of 1,295,133. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The company has a market cap of $133.94 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.89. The company’s 50-day simple moving average is $346.71 and its 200-day simple moving average is $307.34. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.00 EPS. As a group, equities research analysts forecast that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. Stryker’s payout ratio is 38.79%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

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.