Stryker Co. (NYSE:SYK) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. reduced its holdings in Stryker Co. (NYSE:SYK) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,591 shares of the medical technology company’s stock after selling 640 shares during the period. Confluence Wealth Services Inc.’s holdings in Stryker were worth $1,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Dunhill Financial LLC increased its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter worth about $36,000. Crews Bank & Trust acquired a new position in shares of Stryker during the 4th quarter worth about $39,000. Hara Capital LLC purchased a new position in Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust boosted its holdings in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated 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 transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $392.55 on Wednesday. The company’s 50 day simple moving average is $376.87 and its 200-day simple moving average is $364.00. 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 Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market capitalization of $149.65 billion, a price-to-earnings ratio of 50.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the business earned $3.46 EPS. As a group, equities research analysts expect that Stryker Co. will post 13.5 earnings per share for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, December 31st. Stryker’s payout ratio is currently 43.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SYK shares. Truist Financial raised their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Barclays lifted their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their price objective on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $419.37.

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.