Bridges Investment Management Inc. Sells 755 Shares of Stryker Co. (NYSE:SYK)

Bridges Investment Management Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 1.1% in the fourth quarter, Holdings Channel reports. The fund owned 66,590 shares of the medical technology company’s stock after selling 755 shares during the quarter. Bridges Investment Management Inc.’s holdings in Stryker were worth $23,976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. J. W. Coons Advisors LLC boosted 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 valued at $1,315,000 after acquiring an additional 26 shares in the last quarter. Opal Wealth Advisors LLC boosted its position in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after purchasing an additional 28 shares in the last quarter. Capital & Planning LLC grew its stake in Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after purchasing an additional 29 shares during the period. Alhambra Investment Management LLC raised its holdings in Stryker by 1.5% in the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after purchasing an additional 29 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Stryker by 4.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock valued at $247,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $386.55 on Friday. The firm has a fifty day simple moving average of $380.50 and a two-hundred day simple moving average of $371.22. The firm has a market cap of $147.50 billion, a PE ratio of 49.81, a P/E/G ratio of 2.93 and a beta of 0.96. 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 Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business earned $3.46 EPS. On average, equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

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 given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction dated 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 sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s 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 completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SYK has been the subject of several research reports. Argus set a $450.00 price target on shares of Stryker in a research note on Monday, February 3rd. Citigroup reiterated a “buy” rating and set a $450.00 target price on shares of Stryker in a report on Wednesday. Wells Fargo & Company upped their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group increased their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus 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.