Resonant Capital Advisors LLC Sells 51 Shares of Stryker Co. (NYSE:SYK)

Resonant Capital Advisors LLC lessened its stake in shares of Stryker Co. (NYSE:SYK) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,196 shares of the medical technology company’s stock after selling 51 shares during the period. Resonant Capital Advisors LLC’s holdings in Stryker were worth $3,319,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parnassus Investments LLC bought a new position in shares of Stryker in the third quarter worth about $762,798,000. International Assets Investment Management LLC lifted its position in shares of 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 buying an additional 852,496 shares in the last quarter. RTW Investments LP purchased a new stake in shares of Stryker in the third quarter worth about $143,392,000. State Street Corp lifted its position in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Stryker by 3.0% in the third 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 in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent research reports. Barclays upped their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Truist Financial increased their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $419.37.

Stryker Trading Up 0.1 %

Shares of Stryker stock opened at $390.90 on Monday. The stock has a market cap of $149.02 billion, a P/E ratio of 50.37, a P/E/G ratio of 2.78 and a beta of 0.96. The stock’s 50 day simple moving average is $376.68 and its 200-day simple moving average is $363.22. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 previous year, the company posted $3.46 EPS. Analysts predict that Stryker Co. will post 13.5 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 43.30%.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.50% of the company’s stock.

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.