Ritholtz Wealth Management Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Ritholtz Wealth Management lessened its holdings in Stryker Co. (NYSE:SYK) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,285 shares of the medical technology company’s stock after selling 65 shares during the period. Ritholtz Wealth Management’s holdings in Stryker were worth $1,583,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Stryker during the 1st quarter valued at $27,000. Freedom Wealth Alliance LLC acquired a new stake in Stryker during the 4th quarter valued at $26,000. Rise Advisors LLC grew 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 purchasing an additional 97 shares in the last quarter. West Tower Group LLC acquired a new stake in Stryker during the 2nd quarter valued at $35,000. Finally, Cornerstone Planning Group LLC acquired a new stake in Stryker during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. Citigroup lifted their price objective on shares of Stryker from $340.00 to $362.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $360.00 price objective on shares of Stryker in a research report on Thursday, February 15th. Wells Fargo & Company boosted their price target on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Finally, Morgan Stanley boosted their price target on shares of Stryker from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, December 4th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.52.

Insider Buying and Selling

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated 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 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 link. In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction 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 transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated 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 owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,109 shares of company stock worth $72,845,768. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $357.87 on Friday. The firm’s 50 day simple moving average is $343.42 and its 200-day simple moving average is $305.60. The company has a market cap of $136.16 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

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

Stryker Dividend Announcement

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

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.