Stearns Financial Services Group trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 18.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,140 shares of the medical technology company’s stock after selling 1,138 shares during the period. Stearns Financial Services Group’s holdings in Stryker were worth $796,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Sawyer & Company Inc purchased a new position in shares of Stryker in the 4th quarter worth $125,000. Sit Investment Associates Inc. boosted its stake in shares of Stryker by 114.3% in the 4th quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock worth $128,000 after buying an additional 440 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its stake in shares of Stryker by 47.8% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after buying an additional 325 shares during the last quarter. Oak Point Wealth Management purchased a new position in shares of Stryker in the 4th quarter worth $145,000. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of Stryker in the 4th quarter worth $164,000. Institutional investors and hedge funds own 74.71% of the company’s stock.
Stryker Corporation (NYSE SYK) opened at $159.87 on Friday. The firm has a market capitalization of $59,894.02, a price-to-earnings ratio of 24.63, a P/E/G ratio of 2.30 and a beta of 0.70. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 52-week low of $124.89 and a 52-week high of $170.00.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.18%. Stryker’s dividend payout ratio is presently 70.15%.
A number of research firms have recently issued reports on SYK. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research note on Wednesday, January 31st. Piper Jaffray Companies restated a “buy” rating and issued a $170.00 price target on shares of Stryker in a research note on Wednesday, January 31st. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating in a research note on Friday, November 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $163.00 price target on shares of Stryker in a research note on Friday, January 5th. Finally, Guggenheim restated a “buy” rating on shares of Stryker in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Stryker presently has a consensus rating of “Hold” and a consensus price target of $162.50.
In other Stryker news, VP William E. Berry, Jr. sold 1,306 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $164.42, for a total transaction of $214,732.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Howard E. Cox, Jr. sold 7,400 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $164.09, for a total value of $1,214,266.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,840 shares of company stock worth $2,749,989. Insiders own 7.40% of the company’s stock.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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