Middleton & Co Inc MA trimmed its stake in Stryker Co. (NYSE:SYK) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 24,372 shares of the medical technology company’s stock after selling 345 shares during the quarter. Middleton & Co Inc MA’s holdings in Stryker were worth $3,820,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Landsberg Bennett & Dubbaneh LLC acquired a new position in Stryker in the fourth quarter valued at $1,926,000. Moody Lynn & Lieberson LLC increased its stake in Stryker by 50.8% in the third quarter. Moody Lynn & Lieberson LLC now owns 75,135 shares of the medical technology company’s stock valued at $13,350,000 after purchasing an additional 25,316 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Stryker in the third quarter valued at $26,368,000. Banco Santander S.A. acquired a new position in Stryker in the third quarter valued at $3,169,000. Finally, First Citizens Bank & Trust Co. increased its stake in Stryker by 318.9% in the third quarter. First Citizens Bank & Trust Co. now owns 6,840 shares of the medical technology company’s stock valued at $1,216,000 after purchasing an additional 5,207 shares during the last quarter. 73.38% of the stock is owned by institutional investors.
Shares of NYSE SYK opened at $179.35 on Wednesday. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $181.18. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $66.28 billion, a PE ratio of 24.53, a P/E/G ratio of 2.18 and a beta of 0.86.
Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.03. Stryker had a return on equity of 29.21% and a net margin of 26.12%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.73 billion. On average, research analysts anticipate that Stryker Co. will post 8.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.16%. Stryker’s dividend payout ratio is currently 28.45%.
In related news, VP M Kathryn Fink sold 180 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $176.77, for a total value of $31,818.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bijoy Sagar sold 2,361 shares of the stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $171.24, for a total value of $404,297.64. Following the completion of the transaction, the vice president now directly owns 2,361 shares of the company’s stock, valued at approximately $404,297.64. The disclosure for this sale can be found here. Insiders sold 17,155 shares of company stock valued at $2,807,774 in the last three months. 7.30% of the stock is currently owned by company insiders.
SYK has been the subject of several analyst reports. Credit Suisse Group upgraded Stryker to an “outperform” rating in a research note on Thursday, January 31st. Oppenheimer set a $170.00 price target on Stryker and gave the stock a “hold” rating in a research note on Friday, November 9th. Citigroup dropped their price target on Stryker from $174.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, January 2nd. Zacks Investment Research restated a “hold” rating and set a $162.00 price target on shares of Stryker in a research note on Monday, December 31st. Finally, UBS Group began coverage on Stryker in a research note on Tuesday, November 27th. They set a “neutral” rating and a $180.00 price target for the company. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Stryker presently has an average rating of “Buy” and an average target price of $185.37.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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