Radnor Capital Management LLC Sells 560 Shares of Stryker Co. (NYSE:SYK)

Radnor Capital Management LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,238 shares of the medical technology company’s stock after selling 560 shares during the quarter. Stryker accounts for about 0.7% of Radnor Capital Management LLC’s holdings, making the stock its 25th largest position. Radnor Capital Management LLC’s holdings in Stryker were worth $4,406,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp raised its stake in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC increased its holdings in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the last quarter. Geode Capital Management LLC raised its position in Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares during the period. Clearbridge Investments LLC boosted its stake in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after acquiring an additional 66,482 shares during the last quarter. Finally, Parnassus Investments LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $762,798,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Robert W. Baird increased their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. UBS Group increased their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Performance

NYSE:SYK opened at $362.68 on Wednesday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market cap of $138.26 billion, a P/E ratio of 38.87, a PEG ratio of 2.82 and a beta of 0.95. The business’s 50-day moving average price is $375.13 and its two-hundred day moving average price is $358.25.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. As a group, equities analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

About Stryker

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.