Foster & Motley Inc. Trims Holdings in Stryker Co. (NYSE:SYK)

Foster & Motley Inc. lowered its position in shares of Stryker Co. (NYSE:SYK) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,899 shares of the medical technology company’s stock after selling 40 shares during the period. Foster & Motley Inc.’s holdings in Stryker were worth $684,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Zhang Financial LLC lifted its stake in shares of Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after buying an additional 40,784 shares in the last quarter. Dale Q Rice Investment Management Ltd purchased a new position in shares of Stryker in the fourth quarter valued at about $587,000. Berkshire Bank boosted its stake in shares of Stryker by 13.8% in the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after acquiring an additional 1,030 shares during the period. PFW Advisors LLC purchased a new stake in shares of Stryker during the fourth quarter worth about $1,350,000. Finally, Traynor Capital Management Inc. bought a new stake in Stryker during the 4th quarter valued at approximately $324,000. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred 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 directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $419.37.

Stryker Trading Up 0.1 %

SYK opened at $390.90 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock’s 50 day moving average price is $376.56 and its 200-day moving average price is $362.38. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The stock has a market cap of $149.02 billion, a price-to-earnings ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same period in the prior year, the firm posted $3.46 EPS. On average, equities analysts forecast that Stryker Co. will post 13.53 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

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.