Benjamin Edwards Inc. Sells 35 Shares of Stryker Co. (NYSE:SYK)

Benjamin Edwards Inc. decreased its position in Stryker Co. (NYSE:SYK) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,069 shares of the medical technology company’s stock after selling 35 shares during the period. Benjamin Edwards Inc.’s holdings in Stryker were worth $1,817,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its position in shares of Stryker by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 169,527 shares of the medical technology company’s stock valued at $50,767,000 after acquiring an additional 3,632 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Stryker by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock valued at $1,210,512,000 after purchasing an additional 103,326 shares during the last quarter. Heritage Wealth Management LLC bought a new stake in shares of Stryker during the 4th quarter worth $1,926,000. Rogco LP purchased a new position in shares of Stryker in the 4th quarter worth about $30,000. Finally, First Trust Direct Indexing L.P. grew its position in Stryker by 7.3% during the fourth quarter. First Trust Direct Indexing L.P. now owns 10,709 shares of the medical technology company’s stock valued at $3,207,000 after buying an additional 728 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SYK. 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 research note on Wednesday, January 31st. Wells Fargo & Company upped their price objective on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI raised their target price on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Roth Mkm upped their price target on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, UBS Group lifted their price objective on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.05.

Stryker Price Performance

Shares of NYSE SYK traded down $1.67 during midday trading on Thursday, hitting $326.45. 956,146 shares of the company’s stock were exchanged, compared to its average volume of 1,314,031. The business’s fifty day moving average price is $348.05 and its two-hundred day moving average price is $316.78. The company has a market cap of $124.20 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 2.71 and a beta of 0.91. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.14 EPS. As a group, research analysts forecast that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s payout ratio is 36.53%.

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is accessible through this link. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock valued at $72,845,768 over the last 90 days. Insiders own 5.90% of the company’s stock.

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.