Eads & Heald Wealth Management Reduces Stake in Stryker Co. (NYSE:SYK)

Eads & Heald Wealth Management trimmed its holdings in Stryker Co. (NYSE:SYK) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,555 shares of the medical technology company’s stock after selling 120 shares during the quarter. Stryker accounts for 1.5% of Eads & Heald Wealth Management’s portfolio, making the stock its 10th largest holding. Eads & Heald Wealth Management’s holdings in Stryker were worth $3,080,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Dunhill Financial LLC raised its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR increased its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the third quarter valued at $36,000. HBW Advisory Services LLC bought a new position in Stryker in the third quarter worth $42,000. Finally, Hara Capital LLC acquired a new stake in Stryker during the third quarter worth $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 3.2 %

Shares of SYK opened at $395.86 on Wednesday. The business’s fifty day moving average price is $375.61 and its two-hundred day moving average price is $359.53. The firm has a market capitalization of $150.91 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 2.63 and a beta of 0.95. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insider Buying and Selling

In other Stryker 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 value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.