Two Point Capital Management Inc. Sells 541 Shares of Stryker Co. (NYSE:SYK)

Two Point Capital Management Inc. reduced its stake in Stryker Co. (NYSE:SYK) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,292 shares of the medical technology company’s stock after selling 541 shares during the quarter. Stryker comprises approximately 3.0% of Two Point Capital Management Inc.’s holdings, making the stock its 17th largest position. Two Point Capital Management Inc.’s holdings in Stryker were worth $8,428,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Dunhill Financial LLC raised its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker in the 3rd quarter worth approximately $36,000. Activest Wealth Management purchased a new position in Stryker in the 4th quarter worth approximately $36,000. Crews Bank & Trust purchased a new position in Stryker in the 4th quarter worth approximately $39,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter worth approximately $42,000. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated 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 owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYK. Citigroup boosted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Trading Down 1.3 %

Shares of Stryker stock opened at $385.49 on Thursday. The company has a market capitalization of $146.96 billion, a P/E ratio of 49.68, a P/E/G ratio of 2.98 and a beta of 0.96. 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 company has a fifty day moving average of $377.27 and a 200 day moving average of $366.01. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping 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 in the prior year, the company posted $3.46 earnings per share. On average, sell-side analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 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.