Stryker Co. (NYSE:SYK) Stake Reduced by Neo Ivy Capital Management

Neo Ivy Capital Management trimmed its position in Stryker Co. (NYSE:SYK - Free Report) by 62.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,002 shares of the medical technology company's stock after selling 1,672 shares during the period. Neo Ivy Capital Management's holdings in Stryker were worth $360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter worth about $25,000. Rakuten Securities Inc. raised its holdings in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at approximately $30,000. BankPlus Trust Department purchased a new position in Stryker in the fourth quarter valued at approximately $33,000. Finally, Activest Wealth Management purchased a new position in Stryker in the fourth quarter valued at approximately $36,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Stryker stock traded up $7.04 during mid-day trading on Tuesday, reaching $383.66. The company's stock had a trading volume of 1,099,109 shares, compared to its average volume of 1,347,413. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The firm has a market cap of $146.44 billion, a price-to-earnings ratio of 49.44, a PEG ratio of 2.93 and a beta of 0.93. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $368.04 and a 200-day moving average price of $376.15.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. Sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker's dividend payout ratio is presently 45.41%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SYK. Truist Financial lifted their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Roth Mkm lifted their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $427.30.

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.