Private Harbour Investment Management & Counsel LLC Lowers Stake in Stryker Co. (NYSE:SYK)

Private Harbour Investment Management & Counsel LLC trimmed its holdings in Stryker Co. (NYSE:SYK) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,530 shares of the medical technology company’s stock after selling 265 shares during the period. Stryker accounts for approximately 1.8% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 21st largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Stryker were worth $1,631,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SYK. J. W. Coons Advisors LLC raised its stake in Stryker by 0.7% during the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after acquiring an additional 26 shares during the last quarter. Mascoma Wealth Management LLC raised its stake in shares of Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock worth $53,000 after purchasing an additional 27 shares during the last quarter. Opal Wealth Advisors LLC grew its position in Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after buying an additional 28 shares during the last quarter. Lindbrook Capital LLC increased its stake in Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after buying an additional 28 shares during the period. Finally, Alhambra Investment Management LLC raised its position in Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 0.3 %

Shares of Stryker stock opened at $373.00 on Wednesday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The business has a 50 day moving average price of $384.76 and a 200 day moving average price of $374.34. The company has a market capitalization of $142.33 billion, a P/E ratio of 48.07, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping 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 in the previous year, the business earned $3.46 earnings per share. Sell-side analysts anticipate that Stryker Co. will post 13.47 EPS 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 of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Citigroup restated a “buy” rating and issued a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Finally, Argus set a $450.00 price objective on Stryker in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

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.