Steigerwald Gordon & Koch Inc. Sells 953 Shares of Stryker Co. (NYSE:SYK)

Steigerwald Gordon & Koch Inc. decreased its holdings in Stryker Co. (NYSE:SYK) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,282 shares of the medical technology company’s stock after selling 953 shares during the quarter. Stryker comprises about 2.8% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 8th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in Stryker were worth $24,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parnassus Investments LLC acquired a new position in Stryker during the 3rd quarter valued at approximately $762,798,000. International Assets Investment Management LLC grew its holdings in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares during the last quarter. RTW Investments LP acquired a new position in shares of Stryker in the 3rd quarter valued at $143,392,000. State Street Corp raised its stake in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. Finally, FMR LLC lifted its position in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYK shares. Barclays raised their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Truist Financial raised their target price on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Up 0.6 %

Shares of NYSE:SYK opened at $383.91 on Friday. The firm has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The business’s 50 day moving average price is $375.51 and its 200-day moving average price is $358.81. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20.

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

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is presently 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.50% of the company’s stock.

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.