Eagle Ridge Investment Management Lowers Stock Position in Stryker Co. (NYSE:SYK)

Eagle Ridge Investment Management lessened its stake in shares of Stryker Co. (NYSE:SYK) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,232 shares of the medical technology company’s stock after selling 3,495 shares during the quarter. Stryker accounts for about 2.6% of Eagle Ridge Investment Management’s holdings, making the stock its 11th biggest holding. Eagle Ridge Investment Management’s holdings in Stryker were worth $26,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Keybank National Association OH boosted its stake in Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after buying an additional 952 shares during the period. Carnegie Capital Asset Management LLC boosted its stake in shares of Stryker by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after purchasing an additional 191 shares during the period. Consolidated Planning Corp purchased a new position in shares of Stryker in the fourth quarter valued at approximately $205,000. Finally, Meritage Portfolio Management purchased a new position in shares of Stryker in the fourth quarter valued at approximately $569,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 in the last three months. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and lifted their price target for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a report on Wednesday, January 31st. TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada lifted their target price on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $340.67.

Stryker Stock Performance

NYSE:SYK traded up $3.05 during midday trading on Monday, reaching $338.66. The stock had a trading volume of 547,671 shares, compared to its average volume of 1,274,831. The stock has a market cap of $128.85 billion, a P/E ratio of 40.68, a P/E/G ratio of 2.70 and a beta of 0.89. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The firm has a fifty day simple moving average of $348.88 and a two-hundred day simple moving average of $315.54. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued 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 company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.00 EPS. On average, equities analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 dividend yield of 0.94%. Stryker’s dividend payout ratio is presently 38.79%.

Stryker Company Profile

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.