Tandem Capital Management Corp ADV Cuts Stock Position in Stryker Co. (NYSE:SYK)

Tandem Capital Management Corp ADV cut its stake in shares of Stryker Co. (NYSE:SYK) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,795 shares of the medical technology company’s stock after selling 589 shares during the quarter. Stryker makes up about 3.1% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 5th largest position. Tandem Capital Management Corp ADV’s holdings in Stryker were worth $5,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bremer Bank National Association increased its stake in shares of Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after buying an additional 34 shares during the period. Simon Quick Advisors LLC boosted its holdings in shares of Stryker by 3.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after buying an additional 34 shares in the last quarter. Consolidated Portfolio Review Corp boosted its holdings in shares of Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after buying an additional 34 shares in the last quarter. MBL Wealth LLC boosted its holdings in shares of Stryker by 4.6% during the 4th quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock valued at $255,000 after buying an additional 37 shares in the last quarter. Finally, PDS Planning Inc boosted its holdings in shares of Stryker by 3.0% during the 3rd quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company’s stock valued at $360,000 after buying an additional 38 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. TD Cowen upped their price target 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. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and upped their price target for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Wells Fargo & Company upped their price target on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, Citigroup upped their price target 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $340.67.

Stryker Price Performance

SYK stock traded up $0.24 during midday trading on Thursday, hitting $337.09. The company’s stock had a trading volume of 1,615,335 shares, compared to its average volume of 1,286,429. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $128.25 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The company has a 50 day moving average of $349.16 and a two-hundred day moving average of $314.40.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 dividend payout ratio (DPR) is presently 38.79%.

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.