Sigma Planning Corp Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Sigma Planning Corp lowered its stake in shares of Stryker Co. (NYSE:SYK) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,599 shares of the medical technology company’s stock after selling 178 shares during the period. Sigma Planning Corp’s holdings in Stryker were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Stryker during the fourth quarter worth about $30,000. Darwin Wealth Management LLC purchased a new stake in Stryker during the third quarter worth about $36,000. Activest Wealth Management purchased a new stake in Stryker during the fourth quarter worth about $36,000. Finally, Crews Bank & Trust acquired a new position in Stryker during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Stifel Nicolaus lifted their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Stock Performance

NYSE:SYK opened at $382.59 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 company has a market cap of $145.99 billion, a P/E ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm’s 50 day moving average is $378.07 and its two-hundred day moving average is $368.99.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $3.46 EPS. Analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is currently 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.