Wealthspire Advisors LLC Sells 720 Shares of Stryker Co. (NYSE:SYK)

Wealthspire Advisors LLC lessened its stake in Stryker Co. (NYSE:SYK) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,140 shares of the medical technology company’s stock after selling 720 shares during the period. Wealthspire Advisors LLC’s holdings in Stryker were worth $2,211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. FMR LLC lifted its stake in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC raised its position in Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after purchasing an additional 28,421 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on 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 sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 1.0 %

SYK opened at $382.59 on Monday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a market cap of $145.99 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $378.07 and a 200 day moving average price of $369.34.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm posted $3.46 earnings per share. Sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is presently 43.30%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYK shares. Evercore ISI upped their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Wednesday, January 29th. Royal Bank of Canada upped their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Citigroup upped their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

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.