Stryker Co. (NYSE:SYK) Shares Sold by Bourne Lent Asset Management Inc.

22 Jan 2025, 16:30 by Sarita Garza · The Markets Daily

Bourne Lent Asset Management Inc. lowered its stake in shares of Stryker Co. (NYSE:SYK – Free Report) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 884 shares of the medical technology company’s stock after selling 200 shares during the quarter. Bourne Lent Asset Management Inc.’s holdings in Stryker were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XML Financial LLC grew its position in shares of Stryker by 14.8% during the fourth quarter. XML Financial LLC now owns 3,560 shares of the medical technology company’s stock worth $1,282,000 after acquiring an additional 460 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Stryker by 21.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 124,596 shares of the medical technology company’s stock worth $44,965,000 after acquiring an additional 21,801 shares during the last quarter. Simon Quick Advisors LLC grew its position in shares of Stryker by 20.7% during the fourth quarter. Simon Quick Advisors LLC now owns 2,568 shares of the medical technology company’s stock worth $925,000 after acquiring an additional 440 shares during the last quarter. Red Spruce Capital LLC purchased a new position in shares of Stryker during the fourth quarter worth approximately $301,000. Finally, Beaumont Financial Advisors LLC grew its position in shares of Stryker by 40.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,837 shares of the medical technology company’s stock worth $1,021,000 after acquiring an additional 810 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYK. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Truist Financial lifted their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group lifted their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $405.80.

View Our Latest Report on SYK

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.50% of the stock is owned by insiders.

Stryker Price Performance

Stryker stock opened at $395.86 on Wednesday. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $375.61 and its 200 day simple moving average is $359.53. The firm has a market capitalization of $150.91 billion, a PE ratio of 42.43, a P/E/G ratio of 2.63 and a beta of 0.95.

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

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is 36.01%.

About Stryker

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