Harbor Investment Advisory LLC Reduces Stake in Stryker Co. (NYSE:SYK)

Harbor Investment Advisory LLC cut its position in shares of Stryker Co. (NYSE:SYK) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,693 shares of the medical technology company’s stock after selling 196 shares during the period. Harbor Investment Advisory LLC’s holdings in Stryker were worth $2,410,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Parnassus Investments LLC acquired a new position in shares of Stryker during the 3rd quarter worth $762,798,000. International Assets Investment Management LLC raised its position in Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the last quarter. RTW Investments LP purchased a new stake in shares of Stryker in the third quarter valued at about $143,392,000. State Street Corp grew its position in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

SYK opened at $383.91 on Tuesday. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market cap of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95. The company has a fifty day simple moving average of $375.51 and a 200 day simple moving average of $359.17.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 earnings per share. Equities research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.50% of the company’s stock.

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.