Sheets Smith Wealth Management Sells 154 Shares of Stryker Co. (NYSE:SYK)

Sheets Smith Wealth Management lessened its position in shares of Stryker Co. (NYSE:SYK) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,616 shares of the medical technology company’s stock after selling 154 shares during the quarter. Sheets Smith Wealth Management’s holdings in Stryker were worth $1,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Capital Planning LLC lifted its holdings in Stryker by 3.6% in the 4th quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after buying an additional 29 shares in the last quarter. Alhambra Investment Management LLC raised its holdings in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after buying an additional 29 shares during the last quarter. Avestar Capital LLC grew its position in Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares in the last quarter. Union Savings Bank increased its position in shares of Stryker by 1.0% during the 4th quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock valued at $1,138,000 after purchasing an additional 31 shares during the period. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Up 3.2 %

NYSE:SYK opened at $395.86 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The stock has a market capitalization of $150.91 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 2.63 and a beta of 0.95. The firm has a 50 day moving average of $375.61 and a 200 day moving average of $359.53.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the firm earned $2.46 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYK shares. Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Evercore ISI lifted their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’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 completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was 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 accessible through this hyperlink. Insiders own 5.50% 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.