Destination Wealth Management cut its position in Stryker Corporation (NYSE:SYK) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,456 shares of the medical technology company’s stock after selling 3,339 shares during the quarter. Stryker makes up 1.4% of Destination Wealth Management’s investment portfolio, making the stock its 24th biggest holding. Destination Wealth Management’s holdings in Stryker were worth $23,606,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sciencast Management LP acquired a new stake in Stryker during the 2nd quarter worth approximately $389,000. Arrowstreet Capital Limited Partnership lifted its position in Stryker by 623.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 55,700 shares of the medical technology company’s stock worth $7,730,000 after acquiring an additional 48,000 shares during the period. Coldstream Capital Management Inc. lifted its position in Stryker by 3.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock worth $2,421,000 after acquiring an additional 626 shares during the period. Scotia Capital Inc. lifted its position in Stryker by 4.5% during the 2nd quarter. Scotia Capital Inc. now owns 5,590 shares of the medical technology company’s stock worth $776,000 after acquiring an additional 243 shares during the period. Finally, Linscomb & Williams Inc. lifted its position in Stryker by 1.2% during the 2nd quarter. Linscomb & Williams Inc. now owns 10,486 shares of the medical technology company’s stock worth $1,455,000 after acquiring an additional 121 shares during the period. 74.49% of the stock is owned by hedge funds and other institutional investors.
Stryker Corporation (SYK) opened at $159.87 on Monday. Stryker Corporation has a one year low of $125.12 and a one year high of $170.00. The firm has a market capitalization of $59,894.02, a P/E ratio of 24.63, a P/E/G ratio of 2.30 and a beta of 0.70. The company has a quick ratio of 1.59, a current ratio of 2.29 and a debt-to-equity ratio of 0.66.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, March 28th. Stryker’s payout ratio is currently 70.15%.
A number of analysts have weighed in on SYK shares. JPMorgan Chase & Co. raised Stryker from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $161.00 to $173.00 in a research report on Thursday, November 16th. Zacks Investment Research cut Stryker from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price objective for the company in a research report on Tuesday, December 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $163.00 target price on shares of Stryker in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Stryker presently has a consensus rating of “Hold” and a consensus price target of $162.50.
In related news, VP William E. Berry, Jr. sold 1,306 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $164.42, for a total value of $214,732.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard E. Cox, Jr. sold 7,400 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $164.09, for a total value of $1,214,266.00. The disclosure for this sale can be found here. Insiders sold a total of 16,840 shares of company stock valued at $2,749,989 over the last ninety days. 7.40% of the stock is currently owned by company insiders.
Stryker Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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