IFG Advisory LLC Trims Stock Holdings in Stryker Co. (NYSE:SYK)

IFG Advisory LLC reduced its position in shares of Stryker Co. (NYSE:SYK) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,838 shares of the medical technology company’s stock after selling 39 shares during the quarter. IFG Advisory LLC’s holdings in Stryker were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in Stryker during the 1st quarter valued at $131,000. Dimensional Fund Advisors LP boosted its position in Stryker by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock valued at $180,182,000 after acquiring an additional 9,026 shares in the last quarter. Prudential PLC bought a new stake in Stryker during the 1st quarter valued at $1,444,000. Sequoia Financial Advisors LLC boosted its position in Stryker by 21.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock valued at $817,000 after acquiring an additional 543 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its position in Stryker by 9.2% during the 1st quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock valued at $839,000 after acquiring an additional 265 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

NYSE SYK opened at $357.87 on Friday. The stock has a market capitalization of $136.16 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 2.92 and a beta of 0.89. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $343.42 and a 200 day moving average of $305.60.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping 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 analysts’ expectations of $5.60 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. Stryker’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s payout ratio is currently 38.79%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYK. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Roth Mkm boosted their target price on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $360.00 target price on shares of Stryker in a research note on Thursday, February 15th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company boosted their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $331.52.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $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 over the last quarter. 5.90% of the stock is currently owned by insiders.

Stryker 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.