Autumn Glory Partners LLC Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Autumn Glory Partners LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 51.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 980 shares of the medical technology company’s stock after selling 1,058 shares during the period. Autumn Glory Partners LLC’s holdings in Stryker were worth $353,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Capital LLC raised its stake in shares of Stryker by 3.1% during the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after acquiring an additional 5,841 shares during the last quarter. Zhang Financial LLC raised its stake in shares of Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after acquiring an additional 40,784 shares during the last quarter. Appleton Partners Inc. MA raised its stake in shares of Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after acquiring an additional 1,400 shares during the last quarter. Dale Q Rice Investment Management Ltd bought a new position in shares of Stryker during the fourth quarter valued at about $587,000. Finally, Berkshire Bank raised its stake in shares of Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after acquiring an additional 1,030 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s 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 sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.9 %

NYSE:SYK opened at $385.05 on Friday. The company’s 50 day moving average price is $377.31 and its 200-day moving average price is $366.30. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. 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 stock has a market cap of $146.79 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $3.46 EPS. On average, equities research analysts forecast that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Robert W. Baird increased their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group increased their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $420.68.

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.