Talbot Financial LLC Reduces Holdings in Stryker Co. (NYSE:SYK)

Talbot Financial LLC lowered its position in Stryker Co. (NYSE:SYK) by 1.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 43,920 shares of the medical technology company’s stock after selling 802 shares during the period. Stryker accounts for approximately 2.0% of Talbot Financial LLC’s portfolio, making the stock its 16th biggest holding. Talbot Financial LLC’s holdings in Stryker were worth $16,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after buying an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Stryker by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after acquiring an additional 54,693 shares during the last quarter. FMR LLC lifted its stake in Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after purchasing an additional 168,436 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Stryker during the 4th quarter worth approximately $1,710,744,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYK. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Citigroup reaffirmed a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Evercore ISI reduced their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. Finally, Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $427.30.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Stryker Stock Up 0.1%

Shares of NYSE SYK opened at $382.86 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $368.77 and its two-hundred day moving average is $376.14. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a market cap of $146.13 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. Research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

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.