Connable Office Inc. Sells 245 Shares of Stryker Co. (NYSE:SYK)

Connable Office Inc. decreased its stake in shares of Stryker Co. (NYSE:SYK) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,161 shares of the medical technology company’s stock after selling 245 shares during the period. Stryker makes up 4.6% of Connable Office Inc.’s portfolio, making the stock its 4th biggest position. Connable Office Inc.’s holdings in Stryker were worth $43,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SYK. Parnassus Investments LLC acquired a new position in shares of Stryker in the 3rd quarter worth approximately $762,798,000. Proficio Capital Partners LLC grew its stake in shares of Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after purchasing an additional 595,061 shares during the last quarter. RTW Investments LP acquired a new position in shares of Stryker in the 3rd quarter worth approximately $143,392,000. State Street Corp increased 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 worth $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. Finally, FMR LLC increased its position in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYK. Citigroup reissued a “buy” rating and issued a $450.00 target price on shares of Stryker in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus set a $450.00 target price on shares of Stryker in a research report on Monday, February 3rd. Truist Financial lifted their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Price Performance

NYSE SYK opened at $386.55 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $147.50 billion, a PE ratio of 49.81, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a 50 day moving average price of $380.50 and a two-hundred day moving average price of $370.92. Stryker Co. has a 12-month low of $314.93 and a 12-month 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, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $3.46 earnings per share. As a group, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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 given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is 43.30%.

Stryker Company 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.