Schmidt P J Investment Management Inc. Sells 279 Shares of Stryker Co. (NYSE:SYK)

Schmidt P J Investment Management Inc. trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,734 shares of the medical technology company’s stock after selling 279 shares during the quarter. Stryker accounts for about 1.4% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 21st largest position. Schmidt P J Investment Management Inc.’s holdings in Stryker were worth $7,825,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SYK. Robertson Stephens Wealth Management LLC raised its stake in shares of Stryker by 47.1% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 925 shares of the medical technology company’s stock worth $334,000 after purchasing an additional 296 shares during the period. Tyche Wealth Partners LLC raised its position in Stryker by 191.3% in the fourth quarter. Tyche Wealth Partners LLC now owns 3,280 shares of the medical technology company’s stock worth $1,181,000 after acquiring an additional 2,154 shares during the period. Tectonic Advisors LLC boosted its stake in Stryker by 2.7% in the fourth quarter. Tectonic Advisors LLC now owns 2,354 shares of the medical technology company’s stock valued at $847,000 after acquiring an additional 63 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Stryker by 37.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,366 shares of the medical technology company’s stock valued at $15,114,000 after acquiring an additional 11,247 shares during the period. Finally, Weaver Capital Management LLC raised its holdings in shares of Stryker by 4.6% in the 4th quarter. Weaver Capital Management LLC now owns 3,630 shares of the medical technology company’s stock worth $1,307,000 after purchasing an additional 159 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 1.7 %

Shares of SYK opened at $399.01 on Thursday. The stock has a market capitalization of $152.11 billion, a P/E ratio of 51.42, a PEG ratio of 2.78 and a beta of 0.96. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $376.87 and a two-hundred day simple moving average of $364.00.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the company earned $3.46 earnings per share. On average, research analysts anticipate that Stryker Co. will post 13.5 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Stryker’s dividend payout ratio is presently 43.30%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Citigroup raised their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $419.37.

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.