Monte Financial Group LLC Has $1.10 Million Holdings in Stryker Co. (NYSE:SYK)

Monte Financial Group LLC lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,041 shares of the medical technology company’s stock after selling 40 shares during the period. Monte Financial Group LLC’s holdings in Stryker were worth $1,095,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Grimes & Company Inc. boosted its holdings in shares of Stryker by 0.5% in the 4th quarter. Grimes & Company Inc. now owns 8,277 shares of the medical technology company’s stock valued at $2,980,000 after purchasing an additional 38 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in Stryker by 16.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,053 shares of the medical technology company’s stock valued at $2,179,000 after purchasing an additional 843 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Stryker by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 14,018 shares of the medical technology company’s stock valued at $5,047,000 after purchasing an additional 92 shares during the period. Fifth Third Bancorp boosted its stake in Stryker by 1.0% during the fourth quarter. Fifth Third Bancorp now owns 89,407 shares of the medical technology company’s stock worth $32,191,000 after acquiring an additional 845 shares in the last quarter. Finally, apricus wealth LLC grew its stake in Stryker by 11.5% in the fourth quarter. apricus wealth LLC now owns 1,832 shares of the medical technology company’s stock valued at $660,000 after acquiring an additional 189 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SYK. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Barclays upped their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group increased their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Up 0.1 %

Shares of SYK stock opened at $394.08 on Friday. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The firm has a market cap of $150.23 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The stock has a 50 day moving average of $376.11 and a 200-day moving average of $360.81. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

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.