Tufton Capital Management Sells 85 Shares of Stryker Co. (NYSE:SYK)

Tufton Capital Management reduced its position in Stryker Co. (NYSE:SYK) by 7.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,005 shares of the medical technology company’s stock after selling 85 shares during the period. Tufton Capital Management’s holdings in Stryker were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Freedom Wealth Alliance LLC purchased a new position in Stryker during the 4th quarter valued at about $26,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. Quarry LP purchased a new position in Stryker during the 1st quarter valued at about $27,000. HBC Financial Services PLLC purchased a new position in Stryker during the 4th quarter valued at about $37,000. Finally, Bourgeon Capital Management LLC purchased a new position in Stryker during the 4th quarter valued at about $37,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

SYK traded down $3.56 during midday trading on Thursday, hitting $332.47. 595,526 shares of the company traded hands, compared to its average volume of 1,242,503. The company’s 50-day moving average is $350.57 and its 200 day moving average is $312.03. Stryker Co. has a 52 week low of $249.98 and a 52 week 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 $126.49 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 2.72 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the prior year, the business earned $3.00 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, research analysts expect 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. Investors of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is 38.79%.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 legal filing with the SEC, which is available at this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, 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. In 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

A number of research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company lifted their target price 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. TD Cowen lifted 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. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and lifted their target price for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Finally, Roth Mkm upped their price target on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Three 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.45.

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.