Phoenix Financial Ltd. Has $8.76 Million Holdings in Stryker Co. (NYSE:SYK)

Phoenix Financial Ltd. cut its stake in Stryker Co. (NYSE:SYK) by 14.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,239 shares of the medical technology company’s stock after selling 4,242 shares during the period. Phoenix Financial Ltd.’s holdings in Stryker were worth $8,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SYK. J. W. Coons Advisors LLC increased its position in Stryker by 0.7% during the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock worth $1,315,000 after purchasing an additional 26 shares in the last quarter. Mascoma Wealth Management LLC boosted its stake in shares of Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after buying an additional 27 shares during the last quarter. Opal Wealth Advisors LLC boosted its stake in shares of Stryker by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after buying an additional 28 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Stryker by 2.0% during the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after buying an additional 28 shares during the last quarter. Finally, Capital & Planning LLC boosted its stake in shares of Stryker by 3.6% during the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after buying an additional 29 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SYK shares. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their price target on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Citigroup reiterated a “buy” rating and issued a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Royal Bank of Canada raised their price objective on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Stock Performance

NYSE:SYK opened at $363.44 on Thursday. Stryker Co. has a 1-year low of $314.93 and a 1-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’s fifty day moving average price is $377.27 and its 200 day moving average price is $373.71. The firm has a market cap of $138.72 billion, a price-to-earnings ratio of 46.84, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates 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 company posted $3.46 earnings per share. On average, sell-side analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued 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%.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’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 sale, the director now directly 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.