Greenwood Capital Associates LLC Trims Stake in Stryker Co. (NYSE:SYK)

Greenwood Capital Associates LLC lowered its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 22.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,734 shares of the medical technology company's stock after selling 5,076 shares during the quarter. Greenwood Capital Associates LLC's holdings in Stryker were worth $6,601,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. J. W. Coons Advisors LLC raised its holdings in shares of Stryker by 0.7% during the fourth 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 during the last quarter. Mascoma Wealth Management LLC raised its holdings in shares of Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after acquiring an additional 27 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after acquiring an additional 28 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 29 shares during the last quarter. Finally, Capital & Planning LLC increased its holdings in shares of Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock valued at $304,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYK. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Evercore ISI cut their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Truist Financial increased their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Stock Down 0.9%

NYSE:SYK traded down $3.48 during midday trading on Friday, reaching $377.01. The company had a trading volume of 876,021 shares, compared to its average volume of 1,332,895. The firm has a market capitalization of $143.90 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.91. The stock's fifty day simple moving average is $372.73 and its 200-day simple moving average is $375.75. Stryker Co. has a 12-month low of $314.93 and a 12-month 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 - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. Stryker's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.50 earnings per share. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now directly owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by company insiders.

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.