Lynch & Associates IN Sells 238 Shares of Stryker Co. (NYSE:SYK)

Lynch & Associates IN reduced its stake in Stryker Co. (NYSE:SYK) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 18,143 shares of the medical technology company’s stock after selling 238 shares during the quarter. Stryker makes up 1.4% of Lynch & Associates IN’s portfolio, making the stock its 21st biggest position. Lynch & Associates IN’s holdings in Stryker were worth $6,532,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tilia Fiduciary Partners Inc. boosted its holdings in Stryker by 3.6% during the 4th quarter. Tilia Fiduciary Partners Inc. now owns 7,075 shares of the medical technology company’s stock worth $2,548,000 after acquiring an additional 243 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of Stryker by 11.2% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 496 shares of the medical technology company’s stock valued at $179,000 after purchasing an additional 50 shares during the period. ST Germain D J Co. Inc. lifted its stake in shares of Stryker by 14.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 2,362 shares of the medical technology company’s stock valued at $850,000 after buying an additional 300 shares in the last quarter. Rempart Asset Management Inc. grew its stake in Stryker by 5.0% in the 4th quarter. Rempart Asset Management Inc. now owns 49,496 shares of the medical technology company’s stock valued at $17,821,000 after buying an additional 2,351 shares in the last quarter. Finally, Bath Savings Trust Co raised its holdings in Stryker by 0.7% during the 4th quarter. Bath Savings Trust Co now owns 113,412 shares of the medical technology company’s stock valued at $40,834,000 after acquiring an additional 823 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the topic of several research analyst reports. UBS Group upped their price objective 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. Citigroup increased their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research report on Tuesday. Finally, Truist Financial increased their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Stryker stock traded up $1.94 during trading on Friday, reaching $366.04. The company had a trading volume of 1,308,834 shares, compared to its average volume of 1,283,502. The firm’s 50-day simple moving average is $375.42 and its 200 day simple moving average is $357.51. Stryker Co. has a 52 week low of $306.10 and a 52 week high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $139.54 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last released its 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. Stryker’s payout ratio is 36.01%.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by insiders.

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.