Stonebridge Capital Management Inc. Sells 175 Shares of Stryker Co. (NYSE:SYK)

Stonebridge Capital Management Inc. decreased its holdings in Stryker Co. (NYSE:SYK) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 25,535 shares of the medical technology company’s stock after selling 175 shares during the period. Stryker comprises 3.8% of Stonebridge Capital Management Inc.’s holdings, making the stock its 6th biggest position. Stonebridge Capital Management Inc.’s holdings in Stryker were worth $9,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SYK. Dimensional Fund Advisors LP raised its position in shares of Stryker by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 786,832 shares of the medical technology company’s stock valued at $267,725,000 after buying an additional 97,160 shares in the last quarter. Primecap Management Co. CA raised its holdings in Stryker by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 447,500 shares of the medical technology company’s stock valued at $152,262,000 after acquiring an additional 1,400 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Stryker in the 2nd quarter valued at $369,000. Axxcess Wealth Management LLC raised its holdings in Stryker by 1.8% in the 2nd quarter. Axxcess Wealth Management LLC now owns 5,167 shares of the medical technology company’s stock valued at $1,758,000 after acquiring an additional 93 shares in the last quarter. Finally, Argent Trust Co raised its holdings in Stryker by 11.7% in the 2nd quarter. Argent Trust Co now owns 6,918 shares of the medical technology company’s stock valued at $2,354,000 after acquiring an additional 722 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now 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 document filed with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYK. Truist Financial lifted their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price target on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Trading Up 1.5 %

NYSE SYK opened at $368.09 on Thursday. The business’s 50-day moving average price is $375.13 and its two-hundred day moving average price is $358.25. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The firm has a market capitalization of $140.32 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

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

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. Stryker’s dividend payout ratio is presently 36.01%.

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.