TFC Financial Management Inc. Trims Stock Position in Stryker Co. (NYSE:SYK)

TFC Financial Management Inc. cut its stake in shares of Stryker Co. (NYSE:SYK) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,028 shares of the medical technology company’s stock after selling 74 shares during the quarter. TFC Financial Management Inc.’s holdings in Stryker were worth $370,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC boosted its stake in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after purchasing an additional 28 shares in the last quarter. Alhambra Investment Management LLC boosted its stake in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after purchasing an additional 29 shares in the last quarter. Capital & Planning LLC boosted its stake in shares of Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares in the last quarter. Concord Wealth Partners boosted its stake in Stryker by 2.2% in the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock valued at $503,000 after acquiring an additional 30 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after acquiring an additional 31 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SYK. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $420.68.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred 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 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 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.

Stryker Stock Performance

SYK opened at $385.49 on Thursday. The firm has a market capitalization of $146.96 billion, a PE ratio of 49.68, a PEG ratio of 2.98 and a beta of 0.96. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The firm’s 50-day moving average price is $377.27 and its 200 day moving average price is $366.01. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 annualized dividend and a yield of 0.87%. Stryker’s payout ratio is 43.30%.

About Stryker

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.