Baker Ellis Asset Management LLC Sells 322 Shares of Stryker Co. (NYSE:SYK)

Baker Ellis Asset Management LLC cut its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,694 shares of the medical technology company’s stock after selling 322 shares during the period. Stryker comprises approximately 1.1% of Baker Ellis Asset Management LLC’s holdings, making the stock its 26th largest holding. Baker Ellis Asset Management LLC’s holdings in Stryker were worth $7,811,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SYK. Parnassus Investments LLC bought a new position in Stryker in the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC boosted its position in Stryker by 66,967.5% in 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 buying an additional 852,496 shares during the last quarter. RTW Investments LP acquired a new position in shares of Stryker in the 3rd quarter valued at $143,392,000. State Street Corp lifted 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 valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. Finally, FMR LLC lifted its stake in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of NYSE SYK opened at $390.31 on Thursday. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The stock has a market cap of $148.79 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 2.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm’s 50-day simple moving average is $375.78 and its 200 day simple moving average is $359.94.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYK. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial increased their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Finally, Citigroup raised their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently 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.