Confluence Investment Management LLC Has $88.37 Million Holdings in Stryker Co. (NYSE:SYK)

Confluence Investment Management LLC decreased its stake in Stryker Co. (NYSE:SYK) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,423 shares of the medical technology company’s stock after selling 6,438 shares during the quarter. Confluence Investment Management LLC owned approximately 0.06% of Stryker worth $88,365,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SYK. Parnassus Investments LLC acquired a new stake in shares of Stryker during the third quarter worth approximately $762,798,000. International Assets Investment Management LLC increased its holdings in Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP bought a new position in Stryker in the 3rd quarter valued at $143,392,000. American Century Companies Inc. boosted its stake in Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 0.5 %

Shares of NYSE SYK traded down $1.83 during midday trading on Thursday, reaching $358.22. 147,714 shares of the stock were exchanged, compared to its average volume of 1,259,607. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 12 month low of $292.43 and a 12 month high of $398.20. The business has a 50-day simple moving average of $375.08 and a two-hundred day simple moving average of $356.95. The company has a market capitalization of $136.56 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 2.82 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.94%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC lifted their price target on Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $405.80.

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.