Monte Financial Group LLC Sells 40 Shares of Stryker Co. (NYSE:SYK)

Monte Financial Group LLC decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,041 shares of the medical technology company’s stock after selling 40 shares during the period. Monte Financial Group LLC’s holdings in Stryker were worth $1,095,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in Stryker during the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC boosted its stake in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after buying an additional 852,496 shares during the last quarter. RTW Investments LP bought a new position in Stryker in the 3rd quarter valued at $143,392,000. State Street Corp raised its stake in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. Finally, FMR LLC grew its position in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 completion of 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 legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SYK. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Truist Financial lifted their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Trading Up 0.1 %

Shares of SYK opened at $394.08 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $150.23 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.68 and a beta of 0.95. The company has a 50-day moving average of $376.11 and a 200 day moving average of $360.81. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20.

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

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 36.01%.

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.