Cohen Capital Management Inc. Reduces Holdings in Stryker Co. (NYSE:SYK)

Cohen Capital Management Inc. cut its holdings in shares of Stryker Co. (NYSE:SYK) by 0.2% in the 4th quarter, HoldingsChannel reports. The firm owned 84,847 shares of the medical technology company’s stock after selling 150 shares during the quarter. Stryker accounts for approximately 4.8% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Cohen Capital Management Inc.’s holdings in Stryker were worth $25,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the period. HBC Financial Services PLLC bought a new position in Stryker during the fourth quarter worth about $37,000. Bourgeon Capital Management LLC purchased a new position in shares of Stryker in the fourth quarter worth about $37,000. Venturi Wealth Management LLC raised its position 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 valued at $41,000 after purchasing an additional 67 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its stake in shares of Stryker by 40.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 140 shares of the medical technology company’s stock valued at $42,000 after buying an additional 40 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE:SYK traded up $2.25 during trading on Monday, reaching $327.68. The company had a trading volume of 1,688,622 shares, compared to its average volume of 1,277,795. The company has a fifty day moving average of $349.74 and a two-hundred day moving average of $313.59. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $124.67 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is 38.79%.

Insider Activity at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Stryker 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 transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’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 disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SYK shares. Roth Mkm lifted their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Citigroup boosted their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Evercore ISI lifted their target price on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, TD Cowen increased their price target on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $340.45.

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.