Center for Financial Planning Inc. Decreases Holdings in Stryker Co. (NYSE:SYK)

Center for Financial Planning Inc. cut its holdings in shares of Stryker Co. (NYSE:SYK) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,987 shares of the medical technology company’s stock after selling 61 shares during the quarter. Center for Financial Planning Inc.’s holdings in Stryker were worth $1,796,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Dunhill Financial LLC increased its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Stryker in the 3rd quarter worth about $36,000. Activest Wealth Management purchased a new stake in Stryker in the 4th quarter worth about $36,000. Crews Bank & Trust purchased a new stake in Stryker in the 4th quarter worth about $39,000. Finally, Hara Capital LLC purchased a new stake in Stryker in the 3rd quarter worth about $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $385.05 on Friday. The business has a 50 day moving average of $377.31 and a 200 day moving average of $366.30. The company has a market capitalization of $146.79 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.98 and a beta of 0.96. 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.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping 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 posted $3.46 earnings per share. On average, sell-side analysts predict that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SYK shares. Stifel Nicolaus raised their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $420.68.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on 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 directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

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.