Sigma Investment Counselors Inc. Reduces Stock Holdings in Stryker Co. (NYSE:SYK)

Sigma Investment Counselors Inc. decreased its position in Stryker Co. (NYSE:SYK) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,631 shares of the medical technology company’s stock after selling 297 shares during the period. Stryker comprises approximately 0.9% of Sigma Investment Counselors Inc.’s portfolio, making the stock its 26th biggest holding. Sigma Investment Counselors Inc.’s holdings in Stryker were worth $14,989,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Chicago Capital LLC raised its position in shares of Stryker by 3.1% in the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock worth $70,228,000 after buying an additional 5,841 shares in the last quarter. Zhang Financial LLC increased its holdings in shares of Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after buying an additional 40,784 shares during the period. Appleton Partners Inc. MA increased its holdings in shares of Stryker by 5.0% in the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after buying an additional 1,400 shares during the period. Dale Q Rice Investment Management Ltd purchased a new position in shares of Stryker in the fourth quarter worth about $587,000. Finally, Berkshire Bank grew its stake in shares of Stryker by 13.8% in the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after purchasing an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 1.0 %

Shares of Stryker stock opened at $382.59 on Friday. The company has a market capitalization of $145.99 billion, a P/E ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a fifty day moving average of $378.07 and a 200 day moving average of $368.99. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the firm posted $3.46 earnings per share. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is 43.30%.

Insider Activity

In other news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SYK. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Wednesday, January 29th. UBS Group boosted their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $422.15.

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.