Two Point Capital Management Inc. Decreases Holdings in Stryker Co. (NYSE:SYK)

Two Point Capital Management Inc. trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 2.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,292 shares of the medical technology company’s stock after selling 541 shares during the quarter. Stryker makes up 3.0% of Two Point Capital Management Inc.’s holdings, making the stock its 17th biggest holding. Two Point Capital Management Inc.’s holdings in Stryker were worth $8,428,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SYK. Exchange Traded Concepts LLC raised its position in Stryker by 1.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,261 shares of the medical technology company’s stock worth $1,901,000 after purchasing an additional 96 shares during the period. Grove Bank & Trust raised its position in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. CX Institutional raised its position in Stryker by 3.9% in the 3rd quarter. CX Institutional now owns 3,478 shares of the medical technology company’s stock worth $1,257,000 after purchasing an additional 130 shares during the period. Swedbank AB increased its position in shares of Stryker by 10.9% during the third quarter. Swedbank AB now owns 51,070 shares of the medical technology company’s stock worth $18,450,000 after acquiring an additional 5,032 shares during the period. Finally, Brady Family Wealth LLC increased its position in shares of Stryker by 3.3% during the third quarter. Brady Family Wealth LLC now owns 23,842 shares of the medical technology company’s stock worth $8,613,000 after acquiring an additional 771 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 1.3 %

NYSE SYK opened at $385.49 on Thursday. The company has a fifty day simple moving average of $377.27 and a two-hundred day simple moving average of $366.01. The stock has a market cap of $146.96 billion, a P/E ratio of 49.68, a P/E/G ratio of 2.98 and a beta of 0.96. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the company earned $3.46 earnings per share. On average, analysts forecast that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SYK. Citigroup raised their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group raised their target price 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. Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $420.68.

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.