Zhang Financial LLC Has $22.55 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Zhang Financial LLC reduced its position in Stryker Co. (NYSE:SYK) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 75,301 shares of the medical technology company’s stock after selling 879 shares during the period. Stryker makes up about 1.9% of Zhang Financial LLC’s portfolio, making the stock its 13th largest position. Zhang Financial LLC’s holdings in Stryker were worth $22,549,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Freedom Wealth Alliance LLC bought a new position in Stryker in the 4th quarter valued at about $26,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Quarry LP bought a new position in Stryker in the 1st quarter valued at about $27,000. HBC Financial Services PLLC bought a new position in Stryker in the 4th quarter valued at about $37,000. Finally, Bourgeon Capital Management LLC bought a new position in Stryker in the 4th quarter valued at about $37,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,109 shares of company stock worth $72,845,768. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK traded down $1.14 during midday trading on Friday, reaching $326.31. 744,022 shares of the company were exchanged, compared to its average volume of 1,256,550. The stock’s 50-day moving average price is $350.34 and its 200-day moving average price is $312.14. The stock has a market cap of $124.15 billion, a P/E ratio of 39.54, a PEG ratio of 2.71 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 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 quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the firm posted $3.00 earnings per share. Stryker’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s dividend payout ratio (DPR) is currently 38.79%.

Analysts Set New Price Targets

Several research firms have weighed in on SYK. Truist Financial increased their price target on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Wells Fargo & Company raised their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Royal Bank of Canada raised their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a report on Wednesday, January 31st. Finally, TD Cowen boosted their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $340.45.

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.