Stryker Co. (NYSE:SYK) Shares Sold by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. cut its stake in shares of Stryker Co. (NYSE:SYK) by 18.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 884 shares of the medical technology company’s stock after selling 200 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Stryker were worth $318,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SYK. Dunhill Financial LLC grew its holdings in shares of 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 buying an additional 37 shares in the last quarter. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter worth $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the subject of a number of research reports. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company upped their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Stryker Stock Up 3.2 %

Shares of SYK opened at $395.86 on Wednesday. The stock has a market capitalization of $150.91 billion, a PE ratio of 42.43, a P/E/G ratio of 2.63 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 debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company’s 50-day simple moving average is $375.61 and its 200-day simple moving average is $359.53.

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

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

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.