Premier Fund Managers Ltd Lowers Stake in Stryker Co. (NYSE:SYK)

Premier Fund Managers Ltd reduced its stake in shares of Stryker Co. (NYSE:SYK) by 53.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,706 shares of the medical technology company’s stock after selling 24,484 shares during the quarter. Premier Fund Managers Ltd’s holdings in Stryker were worth $7,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker during the fourth quarter valued at approximately $25,000. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker during the 4th quarter worth $30,000. Finally, BankPlus Trust Department purchased a new stake in Stryker in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.0 %

SYK stock opened at $367.87 on Friday. The company has a market cap of $140.37 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 2.93 and a beta of 0.95. The firm has a 50-day moving average of $384.47 and a two-hundred day moving average of $374.24. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. 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 released its quarterly earnings data 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 return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company earned $3.46 EPS. As a group, analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.91%. Stryker’s dividend payout ratio is currently 43.30%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group lifted their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Truist Financial upped their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $421.90.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

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.