Swmg LLC Sells 78 Shares of Stryker Co. (NYSE:SYK)

Swmg LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,157 shares of the medical technology company’s stock after selling 78 shares during the quarter. Swmg LLC’s holdings in Stryker were worth $842,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Zhang Financial LLC increased its stake in shares of Stryker by 55.0% in the fourth 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 bought a new position in Stryker during the fourth quarter worth about $587,000. Berkshire Bank lifted its holdings in shares of Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after purchasing an additional 1,030 shares in the last quarter. PFW Advisors LLC bought a new position in shares of Stryker during the 4th quarter valued at about $1,350,000. Finally, Traynor Capital Management Inc. bought a new stake in Stryker in the 4th quarter valued at approximately $324,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

SYK opened at $390.90 on Friday. The firm has a fifty day moving average price of $376.56 and a 200 day moving average price of $362.38. 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. The stock has a market cap of $149.02 billion, a P/E ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same period in the prior year, the business posted $3.46 earnings per share. Equities research analysts anticipate that Stryker Co. will post 13.53 earnings per share for the current year.

Stryker Increases Dividend

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

Analyst Ratings Changes

SYK has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Wednesday. Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Truist Financial increased their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $419.37.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the business’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 completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

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.