Great Diamond Partners LLC Sells 48 Shares of Stryker Co. (NYSE:SYK)

Great Diamond Partners LLC cut its position in shares of Stryker Co. (NYSE:SYK) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 864 shares of the medical technology company’s stock after selling 48 shares during the quarter. Great Diamond Partners LLC’s holdings in Stryker were worth $311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in shares of Stryker in the third quarter valued at approximately $762,798,000. International Assets Investment Management LLC boosted its position in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the last quarter. RTW Investments LP bought a new position in Stryker in the 3rd quarter valued at $143,392,000. State Street Corp increased its position 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 valued at $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Stryker by 3.0% in the 3rd 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. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $390.90 on Friday. The company’s 50 day simple moving average is $376.56 and its two-hundred day simple moving average is $362.38. The stock has a market capitalization of $149.02 billion, a PE ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 23.86% and a net margin of 13.25%. During the same period in the prior year, the firm earned $3.46 EPS. Analysts predict that Stryker Co. will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SYK shares. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Wednesday. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $419.37.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by insiders.

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.