Condor Capital Management Sells 178 Shares of Stryker Co. (NYSE:SYK)

Condor Capital Management lessened its stake in Stryker Co. (NYSE:SYK) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,296 shares of the medical technology company’s stock after selling 178 shares during the period. Condor Capital Management’s holdings in Stryker were worth $4,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $25,000. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. raised its position in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Stryker during the 4th quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker during the 4th quarter valued at approximately $33,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Barclays upped their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Stock Performance

Shares of SYK opened at $378.06 on Thursday. The business’s fifty day simple moving average is $383.99 and its two-hundred day simple moving average is $373.85. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market cap of $144.26 billion, a price-to-earnings ratio of 48.72, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $3.46 EPS. Research analysts anticipate that Stryker Co. will post 13.47 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. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker’s payout ratio is 43.30%.

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.