Breiter Capital Management Inc. Reduces Position in Stryker Co. (NYSE:SYK)

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Breiter Capital Management Inc. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,324 shares of the medical technology company’s stock after selling 108 shares during the quarter. Stryker makes up 1.4% of Breiter Capital Management Inc.’s portfolio, making the stock its 20th largest holding. Breiter Capital Management Inc.’s holdings in Stryker were worth $1,328,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SYK. Garrett Wealth Advisory Group LLC purchased a new stake in Stryker in the 3rd quarter worth $35,000. Hudock Capital Group LLC lifted its stake in Stryker by 123.5% in the 4th quarter. Hudock Capital Group LLC now owns 181 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 100 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in Stryker in the 2nd quarter worth $39,000. Evoke Wealth LLC purchased a new stake in Stryker in the 3rd quarter worth $42,000. Finally, Horan Capital Advisors LLC. purchased a new stake in Stryker in the 3rd quarter worth $43,000. Institutional investors and hedge funds own 73.24% of the company’s stock.

In related news, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $206.28, for a total transaction of $962,502.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $215.85, for a total transaction of $582,795.00. Following the sale, the chief financial officer now directly owns 17,933 shares of the company’s stock, valued at approximately $3,870,838.05. The disclosure for this sale can be found here. Insiders have sold 26,652 shares of company stock valued at $5,705,481 in the last three months. 7.20% of the stock is currently owned by corporate insiders.

Shares of SYK opened at $216.22 on Friday. The company has a 50 day moving average price of $208.42 and a 200-day moving average price of $211.30. Stryker Co. has a fifty-two week low of $160.79 and a fifty-two week high of $223.45. The stock has a market capitalization of $80.30 billion, a PE ratio of 23.97, a PEG ratio of 2.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.35 and a current ratio of 2.18.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.01. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Stryker’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Stryker Co. will post 8.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.575 per share. This is a boost from Stryker’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 30th. This represents a $2.30 dividend on an annualized basis and a yield of 1.06%. Stryker’s dividend payout ratio is presently 31.46%.

SYK has been the topic of several research analyst reports. BTIG Research boosted their price target on shares of Stryker from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, December 30th. Piper Sandler cut shares of Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research note on Tuesday, January 7th. Canaccord Genuity boosted their price target on shares of Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays cut shares of Stryker from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $226.00 to $207.00 in a research note on Tuesday, November 5th. Finally, Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Thursday, November 28th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $222.16.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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