Lynch & Associates IN Cuts Stake in Stryker Co. (NYSE:SYK)

Lynch & Associates IN cut its stake in shares of Stryker Co. (NYSE:SYK) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,143 shares of the medical technology company’s stock after selling 238 shares during the quarter. Stryker makes up approximately 1.4% of Lynch & Associates IN’s portfolio, making the stock its 21st biggest position. Lynch & Associates IN’s holdings in Stryker were worth $6,532,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SYK. State Street Corp grew its position in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares during the last quarter. FMR LLC grew its holdings in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC raised its position in Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new stake in Stryker during the third quarter worth about $762,798,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is owned by insiders.

Stryker Price Performance

Shares of SYK traded up $1.94 during trading hours on Friday, hitting $366.04. The stock had a trading volume of 1,308,834 shares, compared to its average volume of 1,283,502. The company’s fifty day moving average is $375.42 and its two-hundred day moving average is $357.51. Stryker Co. has a 52 week low of $306.10 and a 52 week high of $398.20. The stock has a market capitalization of $139.54 billion, a price-to-earnings ratio of 39.23, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 earnings per share. On average, analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

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.