Courier Capital LLC Has $1.10 Million Stake in Stryker Co. (NYSE:SYK)

Courier Capital LLC reduced its holdings in Stryker Co. (NYSE:SYK) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,054 shares of the medical technology company’s stock after selling 867 shares during the period. Courier Capital LLC’s holdings in Stryker were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Dunhill Financial LLC raised 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 acquiring an additional 37 shares in the last quarter. Centennial Bank AR increased its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter valued at $42,000. Finally, Hara Capital LLC acquired a new position in Stryker during the third quarter worth $42,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 1.3 %

NYSE SYK opened at $360.96 on Tuesday. The company has a market cap of $137.60 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.82 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $375.28 and a 200-day moving average of $358.09.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. On average, equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company 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 $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.93%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYK. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 price target on shares of Stryker in a research note on Tuesday, January 7th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, BTIG Research increased their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

About Stryker

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.