Main Street Research LLC Cuts Holdings in Stryker Co. (NYSE:SYK)

Main Street Research LLC lessened its stake in Stryker Co. (NYSE:SYK) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,046 shares of the medical technology company’s stock after selling 60 shares during the quarter. Main Street Research LLC’s holdings in Stryker were worth $738,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the fourth quarter worth approximately $25,000. Dunhill Financial LLC raised its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Stryker in the fourth quarter valued at $30,000. BankPlus Trust Department acquired a new position in Stryker in the fourth quarter valued at $33,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Stryker during the third quarter worth about $36,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE:SYK opened at $379.28 on Monday. 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 company has a market capitalization of $144.73 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm has a 50-day moving average price of $382.45 and a two-hundred day moving average price of $373.19. Stryker Co. has a twelve month low of $314.93 and a twelve month 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 the consensus estimate 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 prior year, the company posted $3.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal 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 paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus boosted their price target on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group increased their price target on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $422.15.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated 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 completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction 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 transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company 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.