Denali Advisors LLC Sells 68 Shares of Stryker Co. (NYSE:SYK)

Denali Advisors LLC lessened its position in shares of Stryker Co. (NYSE:SYK) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,100 shares of the medical technology company’s stock after selling 68 shares during the period. Denali Advisors LLC’s holdings in Stryker were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC increased its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centricity Wealth Management LLC purchased a new position in Stryker during the fourth quarter worth about $30,000. BankPlus Trust Department bought a new position in Stryker in the 4th quarter worth about $33,000. Darwin Wealth Management LLC purchased a new stake in shares of Stryker in the 3rd quarter valued at about $36,000. Finally, Activest Wealth Management bought a new stake in shares of Stryker during the 4th quarter valued at about $36,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Canaccord Genuity Group increased their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Royal Bank of Canada upped their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, BTIG Research raised their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Stock Performance

Shares of SYK stock opened at $391.54 on Thursday. The company has a market capitalization of $149.40 billion, a P/E ratio of 50.46, a PEG 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 company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a 50 day moving average price of $379.42 and a two-hundred day moving average price of $370.37.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 last year, the company posted $3.46 earnings per share. Analysts expect that Stryker Co. will post 13.47 earnings per share for the current 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 paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is presently 43.30%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on 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 sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

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.