Reynders McVeigh Capital Management LLC Sells 3,066 Shares of Stryker Co. (NYSE:SYK)

Reynders McVeigh Capital Management LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,521 shares of the medical technology company’s stock after selling 3,066 shares during the quarter. Stryker accounts for 2.0% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 17th largest position. Reynders McVeigh Capital Management LLC’s holdings in Stryker were worth $32,198,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Verdence Capital Advisors LLC boosted its holdings in Stryker by 9.2% in the third quarter. Verdence Capital Advisors LLC now owns 1,017 shares of the medical technology company’s stock worth $278,000 after purchasing an additional 86 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Stryker by 16.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 95,382 shares of the medical technology company’s stock worth $26,066,000 after acquiring an additional 13,307 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Stryker during the 3rd quarter worth $2,307,000. Gratus Capital LLC boosted its stake in shares of Stryker by 2.2% during the 3rd quarter. Gratus Capital LLC now owns 6,195 shares of the medical technology company’s stock worth $1,693,000 after acquiring an additional 135 shares during the last quarter. Finally, Gradient Investments LLC boosted its stake in shares of Stryker by 13.5% during the 3rd quarter. Gradient Investments LLC now owns 842 shares of the medical technology company’s stock worth $230,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. Evercore ISI raised their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company raised their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Stifel Nicolaus raised their price objective on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Roth Mkm lifted their price target on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $365.94.

Stryker Stock Down 0.1 %

Shares of NYSE:SYK traded down $0.28 during trading hours on Friday, hitting $330.58. The company’s stock had a trading volume of 1,307,926 shares, compared to its average volume of 1,562,602. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The company has a market capitalization of $125.93 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 2.58 and a beta of 0.91. The firm’s fifty day moving average price is $344.79 and its 200 day moving average price is $319.46.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 EPS. As a group, research analysts expect that Stryker Co. will post 11.94 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

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.