Stryker Co. (NYSE:SYK) Stock Position Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of Stryker Co. (NYSE:SYK) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Freedom Wealth Alliance LLC purchased a new position in Stryker during the fourth quarter valued at approximately $26,000. Quarry LP purchased a new position in Stryker during the first quarter valued at approximately $27,000. Rise Advisors LLC grew its position in Stryker by 692.9% during the third 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 in the second quarter valued at approximately $35,000. Finally, Cornerstone Planning Group LLC bought a new stake in Stryker in the second quarter worth approximately $38,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SYK shares. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Truist Financial lifted their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and lifted their target price for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Citigroup boosted their price objective on shares of Stryker from $340.00 to $362.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Roth Mkm boosted their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.52.

Insiders Place Their Bets

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

Stryker Stock Performance

Shares of SYK opened at $357.87 on Friday. The firm has a 50-day moving average of $343.42 and a 200-day moving average of $305.60. The company has a market cap of $136.16 billion, a PE 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 one year low of $249.98 and a one year high of $361.41.

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

Stryker Dividend Announcement

The firm 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. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

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.