Violich Capital Management Inc. Trims Position in Stryker Co. (NYSE:SYK)

Violich Capital Management Inc. lessened its position in shares of Stryker Co. (NYSE:SYK) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,550 shares of the medical technology company’s stock after selling 650 shares during the quarter. Violich Capital Management Inc.’s holdings in Stryker were worth $2,358,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SYK. Ritholtz Wealth Management increased its position in Stryker by 6.3% during the third quarter. Ritholtz Wealth Management now owns 5,140 shares of the medical technology company’s stock valued at $1,857,000 after acquiring an additional 306 shares during the last quarter. Retirement Planning Group LLC bought a new stake in Stryker during the third quarter valued at about $249,000. Exchange Traded Concepts LLC grew its holdings in Stryker by 1.9% during the third quarter. Exchange Traded Concepts LLC now owns 5,261 shares of the medical technology company’s stock valued at $1,901,000 after purchasing an additional 96 shares during the period. Koshinski Asset Management Inc. grew its holdings in Stryker by 4.0% during the third quarter. Koshinski Asset Management Inc. now owns 2,403 shares of the medical technology company’s stock valued at $868,000 after purchasing an additional 92 shares during the period. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Stryker during the third quarter valued at about $295,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value 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 trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYK. Canaccord Genuity Group boosted their price target on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Evercore ISI increased their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BTIG Research increased their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $420.68.

Stryker Price Performance

Shares of SYK stock opened at $392.15 on Tuesday. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $149.50 billion, a P/E ratio of 50.53, a P/E/G ratio of 2.98 and a beta of 0.96. The stock has a 50 day moving average price of $377.23 and a 200 day moving average price of $365.14.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 quarter last year, the company posted $3.46 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The business 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 $0.84 dividend. 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 0.86%. Stryker’s dividend payout ratio is presently 43.30%.

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.