Stryker Co. (NYSE:SYK) Position Reduced by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,026 shares of the medical technology company’s stock after selling 182 shares during the period. Pitti Group Wealth Management LLC’s holdings in Stryker were worth $307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. HBC Financial Services PLLC bought a new position in shares of Stryker in the fourth quarter valued at $37,000. Bourgeon Capital Management LLC bought a new position in shares of Stryker in the fourth quarter valued at $37,000. Venturi Wealth Management LLC increased its holdings in shares of Stryker by 97.1% in the fourth quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after buying an additional 67 shares in the last quarter. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of Stryker by 40.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 140 shares of the medical technology company’s stock valued at $42,000 after buying an additional 40 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.5 %

Shares of Stryker stock traded down $1.54 on Friday, hitting $335.61. 1,063,790 shares of the company traded hands, compared to its average volume of 1,108,426. The company has a 50-day moving average price of $348.88 and a 200 day moving average price of $315.16. 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 Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a market cap of $127.69 billion, a PE ratio of 40.68, a PEG ratio of 2.70 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating 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 business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the company posted $3.00 EPS. Stryker’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts predict that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced 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. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SYK shares. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Evercore ISI upped their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup upped their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company upped their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, TD Cowen lifted their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.67.

Insiders Place Their Bets

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 over the last three months. 5.90% of the stock is currently owned by insiders.

About Stryker

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.