Forvis Mazars Wealth Advisors LLC Reduces Position in Stryker Co. (NYSE:SYK)

Forvis Mazars Wealth Advisors LLC lessened its position in shares of Stryker Co. (NYSE:SYK) by 2.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,814 shares of the medical technology company’s stock after selling 326 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Stryker were worth $5,334,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in 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 buying an additional 316,404 shares during the last quarter. FMR LLC grew its stake in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the last quarter. Geode Capital Management LLC grew its stake in Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after buying an additional 165,490 shares during the last quarter. Parnassus Investments LLC purchased a new position in Stryker during the 3rd quarter worth approximately $762,798,000. Finally, Janus Henderson Group PLC grew its stake in Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after buying an additional 28,421 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

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

Stryker Stock Performance

Stryker stock opened at $382.59 on Friday. The firm has a market capitalization of $145.99 billion, a P/E ratio of 49.30, a PEG ratio of 2.93 and a beta of 0.96. The stock has a fifty day moving average price of $378.07 and a 200 day moving average price of $368.99. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its earnings results 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 return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the company earned $3.46 earnings per share. Equities research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on SYK. Argus set a $450.00 target price on Stryker in a research note on Monday, February 3rd. Stifel Nicolaus lifted their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Truist Financial lifted their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $422.15.

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.