Peddock Capital Advisors LLC Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Peddock Capital Advisors LLC lowered its stake in Stryker Co. (NYSE:SYK) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,726 shares of the medical technology company’s stock after selling 57 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Stryker were worth $1,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Main Street Financial Solutions LLC raised its stake in Stryker by 19.8% during the second quarter. Main Street Financial Solutions LLC now owns 709 shares of the medical technology company’s stock valued at $241,000 after purchasing an additional 117 shares in the last quarter. Federated Hermes Inc. lifted its position in Stryker by 16.2% in the second quarter. Federated Hermes Inc. now owns 113,916 shares of the medical technology company’s stock worth $38,760,000 after buying an additional 15,882 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in Stryker during the second quarter valued at $241,000. Parallel Advisors LLC raised its stake in shares of Stryker by 2.0% in the second quarter. Parallel Advisors LLC now owns 15,311 shares of the medical technology company’s stock valued at $5,209,000 after acquiring an additional 300 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Stryker by 11.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,282 shares of the medical technology company’s stock worth $12,005,000 after purchasing an additional 3,765 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

Shares of SYK stock traded down $4.70 on Monday, reaching $360.96. 1,400,728 shares of the company were exchanged, compared to its average volume of 1,302,026. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The business has a 50-day moving average price of $375.40 and a 200 day moving average price of $357.95. The company has a market cap of $137.60 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. Stryker’s dividend payout ratio is presently 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on SYK shares. Canaccord Genuity Group increased their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $405.80.

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.