Stryker Co. (NYSE:SYK) Position Reduced by Klingman & Associates LLC

Klingman & Associates LLC trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 24.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,790 shares of the medical technology company’s stock after selling 910 shares during the quarter. Klingman & Associates LLC’s holdings in Stryker were worth $1,005,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Callahan Advisors LLC lifted its position in shares of Stryker by 0.3% in the 4th quarter. Callahan Advisors LLC now owns 50,864 shares of the medical technology company’s stock worth $18,313,000 after buying an additional 167 shares during the last quarter. Davidson Investment Advisors lifted its position in shares of Stryker by 2.2% in the 4th quarter. Davidson Investment Advisors now owns 1,390 shares of the medical technology company’s stock worth $500,000 after buying an additional 30 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Stryker by 3.0% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,453 shares of the medical technology company’s stock worth $3,764,000 after buying an additional 302 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Stryker in the 4th quarter worth about $1,906,000. Finally, Atria Wealth Solutions Inc. lifted its position in shares of Stryker by 2.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 16,607 shares of the medical technology company’s stock worth $5,987,000 after buying an additional 389 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYK shares. Stifel Nicolaus raised their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Barclays increased their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Evercore ISI increased their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $420.68.

Stryker Stock Performance

Shares of SYK opened at $385.44 on Wednesday. The firm’s 50 day moving average is $377.44 and its 200-day moving average is $367.94. The stock has a market capitalization of $147.08 billion, a P/E ratio of 49.67, a P/E/G ratio of 2.90 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the company posted $3.46 EPS. Equities research analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

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.