Northcape Wealth Management LLC Sells 73 Shares of Stryker Co. (NYSE:SYK)

Northcape Wealth Management LLC lowered its holdings in Stryker Co. (NYSE:SYK) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,252 shares of the medical technology company’s stock after selling 73 shares during the quarter. Northcape Wealth Management LLC’s holdings in Stryker were worth $2,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Magellan Asset Management Ltd increased its stake in shares of Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after acquiring an additional 679,450 shares during the last quarter. Barclays PLC raised its stake in Stryker by 103.5% during the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after buying an additional 551,798 shares during the period. Morgan Stanley lifted its holdings in Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after acquiring an additional 223,728 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Stryker by 14.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after purchasing an additional 194,715 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’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 value of $1,116,093.00. Following the transaction, 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 through this link. In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. In the last quarter, 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.

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. Roth Mkm upped their price target on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Truist Financial upped their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their target price on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $340.67.

Stryker Stock Performance

Shares of SYK stock traded down $2.55 on Tuesday, hitting $336.32. The company’s stock had a trading volume of 2,480,477 shares, compared to its average volume of 1,301,242. The stock’s 50 day moving average is $348.68 and its 200-day moving average is $316.14. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a market capitalization of $127.96 billion, a PE ratio of 41.09, a PEG ratio of 2.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the business posted $2.14 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is presently 38.79%.

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.