Stryker Co. (NYSE:SYK) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC cut its holdings in shares of Stryker Co. (NYSE:SYK) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,693 shares of the medical technology company’s stock after selling 196 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Stryker were worth $2,410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. State Street Corp boosted its holdings in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC raised its position in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares during the period. Clearbridge Investments LLC increased its stake in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares during the period. Finally, Parnassus Investments LLC acquired a new stake in Stryker in the third quarter valued at approximately $762,798,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.6 %

NYSE:SYK opened at $383.91 on Tuesday. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $375.51 and its 200-day simple moving average is $359.17. The firm has a market cap of $146.35 billion, a P/E ratio of 41.15, a PEG ratio of 2.63 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the company posted $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on SYK shares. Wells Fargo & Company boosted their price target on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup increased their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

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.