Tocqueville Asset Management L.P. Cuts Holdings in Stryker Co. (NYSE:SYK)

Tocqueville Asset Management L.P. cut its position in shares of Stryker Co. (NYSE:SYK) by 2.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,768 shares of the medical technology company’s stock after selling 42 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Stryker were worth $637,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker during the fourth quarter worth about $25,000. Dunhill Financial LLC raised its position 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 acquiring an additional 37 shares during the period. Rakuten Securities Inc. raised its position in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC bought a new stake in Stryker in the fourth quarter worth about $30,000. Finally, BankPlus Trust Department bought a new stake in Stryker in the fourth quarter worth about $33,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several research reports. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Stifel Nicolaus lifted their price objective 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. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Citigroup reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Stryker Price Performance

NYSE SYK opened at $378.06 on Thursday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a market cap of $144.26 billion, a price-to-earnings ratio of 48.72, a PEG ratio of 2.93 and a beta of 0.95. The company’s 50 day moving average is $383.99 and its two-hundred day moving average is $373.85. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business posted $3.46 EPS. As a group, research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

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.