Oppenheimer Asset Management Inc. Cuts Stake in Stryker Co. (NYSE:SYK)

Oppenheimer Asset Management Inc. lessened its holdings in Stryker Co. (NYSE:SYK) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,605 shares of the medical technology company’s stock after selling 558 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Stryker were worth $12,099,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Chicago Capital LLC grew its stake in Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock worth $70,228,000 after purchasing an additional 5,841 shares in the last quarter. Zhang Financial LLC boosted its stake in shares of Stryker by 55.0% in the 4th 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 during the period. Appleton Partners Inc. MA grew its position in shares of Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after buying an additional 1,400 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Stryker in the fourth quarter valued at approximately $587,000. Finally, Berkshire Bank raised its holdings in Stryker by 13.8% in the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after acquiring an additional 1,030 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective 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. Truist Financial increased their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Price Performance

Shares of NYSE:SYK opened at $389.10 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a 50-day simple moving average of $380.06 and a 200-day simple moving average of $370.50. The stock has a market capitalization of $148.47 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted $3.46 earnings per share. On average, analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company 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 0.86%. Stryker’s dividend payout ratio is currently 43.30%.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s 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 owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by 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.