Stryker Co. (NYSE:SYK) Shares Sold by Lathrop Investment Management Corp

Lathrop Investment Management Corp decreased its position in Stryker Co. (NYSE:SYK) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,823 shares of the medical technology company’s stock after selling 774 shares during the period. Stryker comprises about 3.3% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 10th biggest holding. Lathrop Investment Management Corp’s holdings in Stryker were worth $16,118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Blueprint LLC lifted its position in Stryker by 39.8% in the 3rd quarter. Strategic Blueprint LLC now owns 980 shares of the medical technology company’s stock worth $268,000 after buying an additional 279 shares in the last quarter. Coastline Trust Co lifted its position in Stryker by 26.1% in the 3rd quarter. Coastline Trust Co now owns 1,470 shares of the medical technology company’s stock worth $402,000 after buying an additional 304 shares in the last quarter. UMB Bank n.a. lifted its position in Stryker by 0.7% in the 3rd quarter. UMB Bank n.a. now owns 7,767 shares of the medical technology company’s stock worth $2,122,000 after buying an additional 57 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Stryker by 3.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 108,866 shares of the medical technology company’s stock worth $29,750,000 after buying an additional 3,693 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Stryker by 10.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 820 shares of the medical technology company’s stock worth $224,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYK. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and raised their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Truist Financial raised their price target on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Wells Fargo & Company raised their price target on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Roth Mkm raised their price target on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $340.67.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated 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 owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated 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 $1,287,633,391.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock valued at $72,845,768 over the last quarter. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

NYSE SYK traded down $1.54 during midday trading on Friday, hitting $335.61. The company had a trading volume of 1,063,790 shares, compared to its average volume of 1,108,426. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market cap of $127.69 billion, a price-to-earnings ratio of 40.68, a P/E/G ratio of 2.71 and a beta of 0.89. The firm has a fifty day simple moving average of $348.88 and a two-hundred day simple moving average of $314.88. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period last year, the business posted $3.00 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Equities analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 0.95%. Stryker’s payout ratio is currently 38.79%.

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.