Burns J W & Co. Inc. NY Sells 754 Shares of Stryker Co. (NYSE:SYK)

Burns J W & Co. Inc. NY decreased its stake in shares of Stryker Co. (NYSE:SYK) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,316 shares of the medical technology company’s stock after selling 754 shares during the period. Stryker makes up about 1.2% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 21st largest holding. Burns J W & Co. Inc. NY’s holdings in Stryker were worth $9,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eastern Bank raised its position in Stryker by 2.2% in the 4th quarter. Eastern Bank now owns 3,813 shares of the medical technology company’s stock valued at $1,373,000 after buying an additional 83 shares during the last quarter. Fulcrum Capital LLC raised its holdings in Stryker by 26.4% during the fourth quarter. Fulcrum Capital LLC now owns 1,915 shares of the medical technology company’s stock worth $689,000 after acquiring an additional 400 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in Stryker by 179.2% during the fourth quarter. Harbour Capital Advisors LLC now owns 1,703 shares of the medical technology company’s stock valued at $616,000 after purchasing an additional 1,093 shares during the last quarter. Forza Wealth Management LLC grew its stake in Stryker by 6.1% in the fourth quarter. Forza Wealth Management LLC now owns 885 shares of the medical technology company’s stock valued at $319,000 after purchasing an additional 51 shares in the last quarter. Finally, Cooper Financial Group increased its position in shares of Stryker by 15.0% during the 4th quarter. Cooper Financial Group now owns 883 shares of the medical technology company’s stock worth $318,000 after purchasing an additional 115 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYK. Truist Financial increased their price target on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Barclays lifted their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $405.80.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of Stryker stock traded down $4.70 during trading on Monday, reaching $360.96. 1,400,583 shares of the company’s stock were exchanged, compared to its average volume of 1,301,780. The firm’s 50-day moving average price is $375.40 and its 200 day moving average price is $357.95. The company has a market cap of $137.60 billion, a P/E ratio of 38.69, a PEG ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20.

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

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

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.