Brady Family Wealth LLC Sells 571 Shares of Stryker Co. (NYSE:SYK)

Brady Family Wealth LLC reduced its stake in Stryker Co. (NYSE:SYK) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,271 shares of the medical technology company’s stock after selling 571 shares during the period. Stryker comprises approximately 2.6% of Brady Family Wealth LLC’s investment portfolio, making the stock its 8th largest position. Brady Family Wealth LLC’s holdings in Stryker were worth $8,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. State Street Corp increased its stake in shares of Stryker by 2.2% in the third 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 period. FMR LLC increased its position in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC raised its stake in shares of Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Stryker by 2.9% during the second 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 during the period. Finally, Parnassus Investments LLC bought a new stake in shares of Stryker in the third quarter worth $762,798,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 1.5 %

SYK stock opened at $368.09 on Thursday. The stock’s 50 day simple moving average is $375.13 and its 200 day simple moving average is $358.25. The company has a market cap of $140.32 billion, a P/E ratio of 39.45, a price-to-earnings-growth ratio of 2.51 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 fifty-two week low of $307.23 and a fifty-two week high of $398.20.

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

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 0.91%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. UBS Group boosted their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average 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.