Burns J W & Co. Inc. NY Has $9.48 Million Stake in Stryker Co. (NYSE:SYK)

Burns J W & Co. Inc. NY cut its position in shares of Stryker Co. (NYSE:SYK) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,316 shares of the medical technology company’s stock after selling 754 shares during the quarter. Stryker makes up about 1.2% of Burns J W & Co. Inc. NY’s portfolio, making the stock its 21st largest holding. Burns J W & Co. Inc. NY’s holdings in Stryker were worth $9,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Dunhill Financial LLC increased its stake in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR raised its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker in the third quarter worth approximately $36,000. HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter valued at approximately $42,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of Stryker stock traded down $4.70 during trading on Monday, hitting $360.96. 1,400,583 shares of the company’s stock traded hands, compared to its average volume of 1,301,780. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The stock has a market capitalization of $137.60 billion, a P/E ratio of 38.69, a PEG ratio of 2.82 and a beta of 0.95. The business has a 50-day simple moving average of $375.40 and a 200-day simple moving average of $357.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Tuesday, January 7th. 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 report on Wednesday, October 30th. Truist Financial lifted their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Barclays increased their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

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.