Grandfield & Dodd LLC Has $35.58 Million Stock Position in Stryker Co. (NYSE:SYK)

Grandfield & Dodd LLC cut its position in Stryker Co. (NYSE:SYK) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,805 shares of the medical technology company’s stock after selling 287 shares during the period. Stryker accounts for about 2.2% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 13th biggest position. Grandfield & Dodd LLC’s holdings in Stryker were worth $35,575,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the 4th quarter valued at $25,000. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at $30,000. BankPlus Trust Department bought a new position in shares of Stryker in the fourth quarter valued at about $33,000. Finally, Darwin Wealth Management LLC acquired a new position in Stryker during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 0.6 %

NYSE:SYK opened at $386.55 on Monday. The stock has a market cap of $147.50 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 2.93 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $380.50 and a two-hundred day moving average price of $371.49. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the business posted $3.46 earnings per share. As a group, equities analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Argus set a $450.00 target price on Stryker in a research note on Monday, February 3rd. Canaccord Genuity Group upped their price target on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $422.15.

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.