Eagle Ridge Investment Management Cuts Stake in Stryker Co. (NYSE:SYK)

Eagle Ridge Investment Management lowered its stake in Stryker Co. (NYSE:SYK - Free Report) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,232 shares of the medical technology company's stock after selling 3,495 shares during the period. Stryker makes up 2.6% of Eagle Ridge Investment Management's holdings, making the stock its 11th biggest holding. Eagle Ridge Investment Management's holdings in Stryker were worth $26,422,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. HBC Financial Services PLLC acquired a new stake in Stryker in the fourth quarter valued at about $37,000. Bourgeon Capital Management LLC bought a new position in Stryker in the fourth quarter valued at about $37,000. Operose Advisors LLC raised its stake in Stryker by 308.6% during the third quarter. Operose Advisors LLC now owns 143 shares of the medical technology company's stock worth $39,000 after acquiring an additional 108 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Stryker by 97.1% in the fourth quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company's stock worth $41,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Up 1.0 %

Shares of SYK stock traded up $3.36 during mid-day trading on Monday, hitting $338.97. The company's stock had a trading volume of 1,528,294 shares, compared to its average volume of 1,286,863. 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 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company's fifty day simple moving average is $348.88 and its 200-day simple moving average is $315.54. The company has a market cap of $128.97 billion, a PE ratio of 41.09, a P/E/G ratio of 2.70 and a beta of 0.89.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts' consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. Stryker's dividend payout ratio (DPR) is presently 38.79%.

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. Canaccord Genuity Group upgraded shares of Stryker from a "hold" rating to a "buy" rating and set a $360.00 price target for the company in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a "hold" rating to a "buy" rating and increased their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on Stryker from $360.00 to $386.00 and gave the stock an "outperform" rating in a report on Monday, April 15th. Wells Fargo & Company upped their price objective on Stryker from $336.00 to $364.00 and gave the company an "overweight" rating in a research note on Wednesday, January 31st. Finally, Citigroup lifted their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $340.67.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Allan C. Golston sold 3,273 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 over the last quarter. 5.50% of the stock is currently owned by corporate insiders.

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.