Lido Advisors LLC Reduces Stock Holdings in Stryker Co. (NYSE:SYK)

Lido Advisors LLC lowered its position in Stryker Co. (NYSE:SYK) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,323 shares of the medical technology company’s stock after selling 14,491 shares during the quarter. Lido Advisors LLC’s holdings in Stryker were worth $12,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SYK. Morse Asset Management Inc boosted its stake in Stryker by 16.5% during the third quarter. Morse Asset Management Inc now owns 1,410 shares of the medical technology company’s stock worth $509,000 after buying an additional 200 shares during the period. World Investment Advisors LLC raised its position in Stryker by 126.1% in the third quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company’s stock valued at $2,941,000 after purchasing an additional 4,541 shares during the period. Arvest Bank Trust Division purchased a new stake in Stryker in the third quarter valued at approximately $245,000. Wilmington Savings Fund Society FSB raised its position in Stryker by 13.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 44,795 shares of the medical technology company’s stock valued at $16,183,000 after purchasing an additional 5,361 shares during the period. Finally, Tidal Investments LLC raised its position in Stryker by 13.9% in the third quarter. Tidal Investments LLC now owns 17,478 shares of the medical technology company’s stock valued at $6,314,000 after purchasing an additional 2,139 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, 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 position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup reissued a “buy” rating and issued a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Canaccord Genuity Group boosted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped 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. Finally, Truist Financial upped their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $423.53.

Stryker Stock Performance

Shares of SYK stock opened at $366.58 on Tuesday. 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 Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market cap of $139.92 billion, a P/E ratio of 47.24, a PEG ratio of 2.93 and a beta of 0.93. The firm has a fifty day moving average price of $367.37 and a 200 day moving average price of $373.51.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $3.46 earnings per share. Sell-side analysts predict 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. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s dividend payout ratio is presently 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.