Klingman & Associates LLC Has $1.01 Million Position in Stryker Co. (NYSE:SYK)

Klingman & Associates LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 24.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,790 shares of the medical technology company’s stock after selling 910 shares during the quarter. Klingman & Associates LLC’s holdings in Stryker were worth $1,005,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC boosted 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 period. Darwin Wealth Management LLC acquired a new stake in Stryker in the third quarter valued at approximately $36,000. Activest Wealth Management acquired a new stake in Stryker in the fourth quarter valued at approximately $36,000. Crews Bank & Trust acquired a new stake in Stryker in the fourth quarter valued at approximately $39,000. Finally, Hara Capital LLC acquired a new stake in Stryker in the third quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.50% of the company’s stock.

Stryker Trading Up 0.1 %

Shares of SYK stock opened at $385.44 on Wednesday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm’s fifty day simple moving average is $377.44 and its 200 day simple moving average is $367.94. The firm has a market capitalization of $147.08 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 2.90 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.

Stryker (NYSE:SYK) last announced 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 net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the company earned $3.46 EPS. As a group, sell-side analysts predict that Stryker Co. will post 13.49 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

Analysts Set New Price Targets

A number of analysts have issued reports on SYK shares. Barclays lifted their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Truist Financial lifted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

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.