Angeles Wealth Management LLC Cuts Stock Position in Stryker Co. (NYSE:SYK)

Angeles Wealth Management LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,245 shares of the medical technology company’s stock after selling 60 shares during the period. Angeles Wealth Management LLC’s holdings in Stryker were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SYK. Alhambra Investment Management LLC boosted its position in shares of Stryker by 1.5% in the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after purchasing an additional 29 shares in the last quarter. Capital & Planning LLC raised its stake in Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after buying an additional 29 shares during the last quarter. Concord Wealth Partners boosted its holdings in Stryker by 2.2% in the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock worth $503,000 after acquiring an additional 30 shares in the last quarter. Avestar Capital LLC grew its stake in shares of Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after acquiring an additional 31 shares during the last quarter. Finally, Union Savings Bank increased its holdings in shares of Stryker by 1.0% during the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock valued at $1,138,000 after acquiring an additional 31 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

SYK opened at $392.15 on Tuesday. The stock has a market cap of $149.49 billion, a P/E ratio of 50.53, a P/E/G ratio of 2.98 and a beta of 0.96. 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 firm has a fifty day moving average price of $377.23 and a 200 day moving average price of $365.14. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company posted $3.46 EPS. Equities research analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Analysts Set New Price Targets

Several research firms have weighed in on SYK. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% 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.