Godsey & Gibb Inc. Has $23.96 Million Stake in Stryker Co. (NYSE:SYK)

Godsey & Gibb Inc. cut its position in Stryker Co. (NYSE:SYK) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 66,536 shares of the medical technology company’s stock after selling 724 shares during the quarter. Stryker comprises 2.4% of Godsey & Gibb Inc.’s portfolio, making the stock its 12th biggest holding. Godsey & Gibb Inc.’s holdings in Stryker were worth $23,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dale Q Rice Investment Management Ltd bought a new stake in shares of Stryker during the 4th quarter worth $587,000. Parnassus Investments LLC bought a new position in shares of Stryker in the third quarter worth about $762,798,000. PFW Advisors LLC bought a new position in shares of Stryker in the fourth quarter worth about $1,350,000. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Stryker by 2.4% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock valued at $24,089,000 after purchasing an additional 1,554 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after purchasing an additional 2,000 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Stryker Stock Up 1.5 %

Shares of NYSE:SYK opened at $368.09 on Thursday. The business’s 50-day moving average is $375.13 and its 200-day moving average is $358.25. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The company has a market capitalization of $140.32 billion, a price-to-earnings ratio of 39.45, a P/E/G ratio of 2.51 and a beta of 0.95. 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 (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed 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. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is currently 36.01%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SYK. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Evercore ISI lifted their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $405.80.

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.