Manitou Investment Management Ltd. Sells 228 Shares of Stryker Co. (NYSE:SYK)

Manitou Investment Management Ltd. decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 0.5% in the fourth quarter, HoldingsChannel reports. The firm owned 48,118 shares of the medical technology company’s stock after selling 228 shares during the quarter. Stryker makes up 3.4% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 12th biggest position. Manitou Investment Management Ltd.’s holdings in Stryker were worth $17,325,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC lifted its holdings in Stryker by 94.9% in 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 during the period. Centennial Bank AR raised its position in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $36,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $42,000. Finally, Hara Capital LLC bought a new position in Stryker in the third quarter worth $42,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler reiterated 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. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Up 0.8 %

SYK opened at $393.79 on Friday. Stryker Co. has a 12 month low of $307.23 and a 12 month 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 stock has a 50-day moving average of $375.82 and a 200 day moving average of $360.16. The firm has a market cap of $150.12 billion, a P/E ratio of 42.21, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping 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 quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. As a group, research analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. 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 positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is 36.01%.

Stryker Company 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.