Chronos Wealth Management LLC Has $6.55 Million Position in Stryker Co. (NYSE:SYK)

Chronos Wealth Management LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,183 shares of the medical technology company’s stock after selling 198 shares during the quarter. Stryker comprises approximately 3.3% of Chronos Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Chronos Wealth Management LLC’s holdings in Stryker were worth $6,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Conning Inc. grew its stake in shares of Stryker by 5.1% during the 4th quarter. Conning Inc. now owns 2,520 shares of the medical technology company’s stock worth $907,000 after acquiring an additional 123 shares in the last quarter. EULAV Asset Management increased its stake in Stryker by 2.1% in the 4th quarter. EULAV Asset Management now owns 119,513 shares of the medical technology company’s stock valued at $43,031,000 after buying an additional 2,469 shares during the last quarter. Appleton Partners Inc. MA lifted its position in Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after buying an additional 1,400 shares in the last quarter. Bright Financial Advisors Inc. grew its holdings in shares of Stryker by 3.1% in the 4th quarter. Bright Financial Advisors Inc. now owns 17,591 shares of the medical technology company’s stock valued at $6,334,000 after acquiring an additional 525 shares in the last quarter. Finally, Triasima Portfolio Management inc. bought a new stake in Stryker during the fourth quarter worth about $1,149,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Shares of Stryker stock opened at $391.42 on Friday. The firm has a market capitalization of $149.22 billion, a price-to-earnings ratio of 50.44, a PEG ratio of 2.98 and a beta of 0.96. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The business has a 50-day simple moving average of $377.25 and a 200 day simple moving average of $364.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 quarter last year, the firm posted $3.46 earnings per share. On average, research analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is 43.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial upped their price target on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Wednesday, January 29th. Finally, Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $419.37.

Insiders Place Their Bets

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

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.