Watchman Group Inc. Cuts Holdings in Stryker Co. (NYSE:SYK)

Watchman Group Inc. decreased its position in Stryker Co. (NYSE:SYK) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,697 shares of the medical technology company’s stock after selling 388 shares during the period. Stryker accounts for 1.6% of Watchman Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Watchman Group Inc.’s holdings in Stryker were worth $6,012,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SYK. Dynamic Technology Lab Private Ltd bought a new stake in Stryker in the third quarter worth about $317,000. Townsquare Capital LLC lifted its stake in Stryker by 11.9% in the third quarter. Townsquare Capital LLC now owns 7,468 shares of the medical technology company’s stock valued at $2,698,000 after purchasing an additional 792 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in Stryker by 46.8% during the third quarter. CreativeOne Wealth LLC now owns 2,078 shares of the medical technology company’s stock valued at $751,000 after purchasing an additional 662 shares during the period. Rockefeller Capital Management L.P. increased its position in Stryker by 6.6% in the third quarter. Rockefeller Capital Management L.P. now owns 54,564 shares of the medical technology company’s stock worth $19,712,000 after buying an additional 3,358 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Stryker by 18.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 255,436 shares of the medical technology company’s stock valued at $92,279,000 after buying an additional 40,411 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK opened at $364.38 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market capitalization of $139.08 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95. The company’s fifty day moving average price is $384.08 and its 200-day moving average price is $374.32.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company earned $3.46 earnings per share. On average, equities research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is currently 43.30%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus raised their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial raised their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

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.