TFC Financial Management Inc. Decreases Holdings in Stryker Corporation (NYSE:SYK)

TFC Financial Management Inc. decreased its holdings in Stryker Corporation (NYSE:SYK) by 46.5% in the first quarter, Holdings Channel.com reports. The firm owned 550 shares of the medical technology company’s stock after selling 478 shares during the period. TFC Financial Management Inc.’s holdings in Stryker were worth $205,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker in the fourth quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $26,000. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. City Holding Co. boosted its holdings in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC bought a new position in Stryker during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial increased their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Citigroup reiterated a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is currently owned by insiders.

Stryker Trading Down 0.4%

Shares of Stryker stock opened at $390.67 on Friday. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The company’s fifty day simple moving average is $378.06 and its 200-day simple moving average is $375.38. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The stock has a market capitalization of $149.11 billion, a PE ratio of 52.79, a P/E/G ratio of 2.96 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the business earned $2.50 earnings per share. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

Stryker 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.