Stryker Co. (NYSE:SYK) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lessened its position in shares of Stryker Co. (NYSE:SYK) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,207 shares of the medical technology company’s stock after selling 70 shares during the quarter. Romano Brothers AND Company’s holdings in Stryker were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new position in Stryker in the 4th quarter worth approximately $26,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Quarry LP acquired a new stake in Stryker during the 1st quarter worth about $27,000. HBC Financial Services PLLC purchased a new position in shares of Stryker during the 4th quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC purchased a new position in Stryker during the second quarter valued at approximately $38,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

SYK opened at $342.05 on Monday. The firm has a market capitalization of $130.14 billion, a PE ratio of 41.46, a PEG ratio of 2.75 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The firm’s 50-day moving average price is $350.82 and its 200 day moving average price is $310.95.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the firm posted $3.00 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts expect 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 $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s payout ratio is 38.79%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker 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 owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 3,273 shares of the 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 directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock valued at $72,845,768 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYK. Royal Bank of Canada reaffirmed an “outperform” rating and set a $360.00 price objective on shares of Stryker in a research note on Thursday, February 15th. TD Cowen lifted their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI increased their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Truist Financial lifted their price target on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.09.

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.