Confluence Investment Management LLC Sells 7,086 Shares of Stryker Corporation $SYK

Confluence Investment Management LLC trimmed its position in Stryker Corporation (NYSE:SYK) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,287 shares of the medical technology company’s stock after selling 7,086 shares during the quarter. Confluence Investment Management LLC’s holdings in Stryker were worth $77,073,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares during the period. Schnieders Capital Management LLC. bought a new position in Stryker in the 2nd quarter valued at $205,000. Intech Investment Management LLC grew its position in shares of Stryker by 8.7% during the 2nd quarter. Intech Investment Management LLC now owns 5,977 shares of the medical technology company’s stock valued at $2,365,000 after purchasing an additional 477 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Stryker by 43.9% in the second quarter. Empowered Funds LLC now owns 12,491 shares of the medical technology company’s stock worth $4,942,000 after purchasing an additional 3,813 shares during the period. Finally, United Advisor Group LLC increased its holdings in shares of Stryker by 20.7% in the second quarter. United Advisor Group LLC now owns 710 shares of the medical technology company’s stock worth $281,000 after purchasing an additional 122 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

SYK opened at $339.97 on Friday. The stock has a 50-day moving average price of $363.89 and a 200-day moving average price of $366.43. Stryker Corporation has a 12-month low of $328.23 and a 12-month high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $130.10 billion, a P/E ratio of 40.47, a PEG ratio of 2.02 and a beta of 0.85.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $4.01 EPS. Equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) is 41.90%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research note on Tuesday, January 6th. Robert W. Baird set a $437.00 price target on Stryker in a report on Friday, January 30th. BTIG Research lifted their price target on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $465.00 price objective on shares of Stryker in a research report on Wednesday, March 4th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $427.50.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.