Hartford Investment Management Co. Sells 380 Shares of Stryker Co. (NYSE:SYK)

Hartford Investment Management Co. lessened its position in Stryker Co. (NYSE:SYK) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 21,212 shares of the medical technology company’s stock after selling 380 shares during the period. Hartford Investment Management Co.’s holdings in Stryker were worth $7,637,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Chicago Capital LLC raised its position in Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock worth $70,228,000 after purchasing an additional 5,841 shares during the period. Zhang Financial LLC grew its holdings in shares of Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after acquiring an additional 40,784 shares during the period. Appleton Partners Inc. MA boosted its holdings in shares of Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after buying an additional 1,400 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new position in shares of Stryker during the fourth quarter valued at approximately $587,000. Finally, Berkshire Bank raised its stake in Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after buying an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SYK. Royal Bank of Canada lifted their price objective on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup lifted 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. Canaccord Genuity Group increased their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. BTIG Research lifted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $420.68.

Stryker Trading Down 0.5 %

Shares of NYSE:SYK opened at $390.52 on Wednesday. The company has a market capitalization of $148.88 billion, a PE ratio of 50.33, a P/E/G ratio of 2.98 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $377.28 and its 200-day simple moving average is $365.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

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 in the prior year, the firm earned $3.46 EPS. As a group, equities research analysts predict that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given 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 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.