Stryker Co. (NYSE:SYK) Position Lessened by Chronos Wealth Management LLC

Chronos Wealth Management LLC cut its stake in Stryker Co. (NYSE:SYK) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,183 shares of the medical technology company’s stock after selling 198 shares during the period. Stryker accounts for approximately 3.3% of Chronos Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Chronos Wealth Management LLC’s holdings in Stryker were worth $6,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SYK. Parnassus Investments LLC acquired a new position in Stryker during the 3rd quarter valued at about $762,798,000. International Assets Investment Management LLC lifted its position in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the period. RTW Investments LP bought a new position in Stryker during the 3rd quarter valued at $143,392,000. State Street Corp raised its stake in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares in the last quarter. Finally, FMR LLC boosted its stake in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 1.2 %

NYSE SYK opened at $391.42 on Friday. Stryker Co. has a 1-year low of $314.93 and a 1-year 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. The stock’s 50 day moving average is $377.25 and its two-hundred day moving average is $364.47. The company has a market capitalization of $149.22 billion, a price-to-earnings ratio of 50.44, a PEG ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last posted 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 last year, the business posted $3.46 EPS. Equities analysts forecast that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company 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 yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is 43.30%.

Insider Buying and Selling 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 shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

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.