Stone Point Wealth LLC Cuts Position in Stryker Co. (NYSE:SYK)

Stone Point Wealth LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,935 shares of the medical technology company’s stock after selling 672 shares during the period. Stryker comprises about 1.6% of Stone Point Wealth LLC’s holdings, making the stock its 12th largest holding. Stone Point Wealth LLC’s holdings in Stryker were worth $4,173,000 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 the company. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the period. Quarry LP purchased a new position in shares of Stryker in the first quarter worth about $27,000. Freedom Wealth Alliance LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $26,000. Rise Advisors LLC boosted its holdings in Stryker by 692.9% during the 3rd quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock valued at $30,000 after acquiring an additional 97 shares during the period. Finally, Cornerstone Planning Group LLC bought a new position in Stryker during the 2nd quarter worth approximately $38,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on SYK. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Citigroup increased their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $335.27.

Insider Activity at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated 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 $1,287,633,391.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is owned by insiders.

Stryker Stock Up 0.3 %

Shares of Stryker stock traded up $1.16 during trading on Tuesday, hitting $350.91. The company’s stock had a trading volume of 935,097 shares, compared to its average volume of 1,275,656. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a fifty day simple moving average of $349.80 and a two-hundred day simple moving average of $309.02. The company has a market capitalization of $133.51 billion, a PE ratio of 42.39, a P/E/G ratio of 2.83 and a beta of 0.89.

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

Stryker Announces Dividend

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

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.