Stryker Co. (NYSE:SYK) Stake Reduced by Everence Capital Management Inc.

Everence Capital Management Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 46.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,330 shares of the medical technology company’s stock after selling 4,660 shares during the quarter. Everence Capital Management Inc.’s holdings in Stryker were worth $1,596,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new position in shares of Stryker in the fourth quarter worth $26,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. Quarry LP bought a new position in shares of Stryker in the first quarter worth $27,000. HBC Financial Services PLLC acquired a new stake in shares of Stryker in the fourth quarter valued at $37,000. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at $37,000. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,109 shares of company stock worth $72,845,768. 5.50% of the stock is currently owned by insiders.

Stryker Price Performance

Stryker stock opened at $337.54 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The company has a market capitalization of $128.42 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The business has a 50 day simple moving average of $350.70 and a 200 day simple moving average of $311.86.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $3.00 EPS. On average, sell-side analysts forecast that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker’s payout ratio is 38.79%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYK. Wells Fargo & Company upped their target price on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Truist Financial increased their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Finally, Evercore ISI increased their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.22.

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.