Stryker Co. (NYSE:SYK) Shares Sold by Tilt Investment Management Holdings PBC

Tilt Investment Management Holdings PBC lowered its stake in shares of Stryker Co. (NYSE:SYK) by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,366 shares of the medical technology company’s stock after selling 430 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Stryker were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairfield Bush & CO. acquired a new position in shares of Stryker in the first quarter valued at approximately $131,000. Dimensional Fund Advisors LP raised its holdings in Stryker by 1.4% in 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 acquiring an additional 9,026 shares during the last quarter. Prudential PLC acquired a new position in Stryker in the 1st quarter valued at $1,444,000. Sequoia Financial Advisors LLC lifted its stake in shares of Stryker by 21.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock worth $817,000 after purchasing an additional 543 shares during the period. Finally, Zions Bancorporation N.A. grew its position in shares of Stryker by 9.2% in the first 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 during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company increased their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their target price on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.45.

Stryker Stock Down 2.5 %

SYK stock traded down $8.43 during midday trading on Thursday, hitting $327.60. 1,163,665 shares of the company’s stock were exchanged, compared to its average volume of 1,250,812. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $124.64 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.89. The firm has a 50 day moving average price of $350.57 and a 200-day moving average price of $312.03.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm 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 firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 EPS. On average, analysts anticipate that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is presently 38.79%.

Insider Transactions at Stryker

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 stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is currently owned by corporate 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.