Denali Advisors LLC Sells 68 Shares of Stryker Co. (NYSE:SYK)

Denali Advisors LLC cut its position in shares of Stryker Co. (NYSE:SYK) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,100 shares of the medical technology company’s stock after selling 68 shares during the period. Denali Advisors LLC’s holdings in Stryker were worth $1,116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $762,798,000. RTW Investments LP bought a new stake in Stryker during the third quarter worth about $143,392,000. State Street Corp grew its holdings in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC increased its stake in shares of Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Stryker by 1,552.7% during the third quarter. Public Sector Pension Investment Board now owns 207,889 shares of the medical technology company’s stock valued at $75,102,000 after purchasing an additional 195,310 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.3 %

SYK stock opened at $391.54 on Thursday. The business’s 50-day moving average is $379.42 and its two-hundred day moving average is $370.37. The company has a market cap of $149.40 billion, a price-to-earnings ratio of 50.46, a P/E/G ratio of 2.93 and a beta of 0.96. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 prior year, the business earned $3.46 EPS. As a group, analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial raised their price objective on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup reiterated a “buy” rating and issued a $450.00 price target on shares of Stryker in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $422.15.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This 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. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.