Tandem Investment Advisors Inc. Has $76.16 Million Position in Stryker Co. (NYSE:SYK)

Tandem Investment Advisors Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 2.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 254,339 shares of the medical technology company’s stock after selling 5,706 shares during the period. Stryker accounts for about 3.0% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 11th largest position. Tandem Investment Advisors Inc.’s holdings in Stryker were worth $76,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in Stryker during the 1st quarter valued at $131,000. Dimensional Fund Advisors LP increased its stake in Stryker by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock valued at $180,182,000 after purchasing an additional 9,026 shares in the last quarter. Prudential PLC bought a new stake in Stryker during the 1st quarter valued at $1,444,000. Sequoia Financial Advisors LLC increased its stake in Stryker by 21.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock valued at $817,000 after purchasing an additional 543 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its stake in Stryker by 9.2% during the 1st quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock valued at $839,000 after purchasing an additional 265 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK traded down $1.63 during trading on Wednesday, hitting $336.03. 1,056,153 shares of the company’s stock traded hands, compared to its average volume of 1,252,351. The stock has a market capitalization of $127.85 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 2.73 and a beta of 0.89. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The business has a 50 day moving average of $350.70 and a 200-day moving average of $311.86.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research note on Wednesday, January 31st. Royal Bank of Canada upped their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday. Truist Financial upped their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Citigroup upped their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, TD Cowen upped their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $339.22.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is currently owned by corporate insiders.

Stryker Company 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.