Principle Wealth Partners LLC Sells 53 Shares of Stryker Co. (NYSE:SYK)

Principle Wealth Partners LLC lessened its position in Stryker Co. (NYSE:SYK) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,190 shares of the medical technology company’s stock after selling 53 shares during the period. Principle Wealth Partners LLC’s holdings in Stryker were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% during the 3rd 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 last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $36,000. Activest Wealth Management acquired a new stake in shares of Stryker during the 4th quarter worth about $36,000. Crews Bank & Trust acquired a new stake in shares of Stryker during the 4th quarter worth about $39,000. Finally, Hara Capital LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $42,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Stifel Nicolaus raised their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, 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 note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Price Performance

Shares of NYSE:SYK opened at $390.52 on Wednesday. The firm has a 50 day moving average of $377.28 and a 200-day moving average of $365.59. The stock has a market capitalization of $148.88 billion, a PE ratio of 50.33, a PEG ratio of 2.98 and a beta of 0.96. 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 Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 firm posted $3.46 earnings per share. On average, equities research analysts predict that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by insiders.

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.