Legacy Wealth Management LLC MS Sells 655 Shares of Stryker Co. (NYSE:SYK)

Legacy Wealth Management LLC MS lowered its stake in Stryker Co. (NYSE:SYK) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 8,716 shares of the medical technology company’s stock after selling 655 shares during the quarter. Stryker accounts for approximately 1.2% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 21st largest position. Legacy Wealth Management LLC MS’s holdings in Stryker were worth $3,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nordea Investment Management AB increased its holdings in Stryker by 15.8% during the 4th quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company’s stock worth $350,485,000 after acquiring an additional 132,513 shares during the period. Everence Capital Management Inc. increased its holdings in shares of Stryker by 21.4% in the fourth quarter. Everence Capital Management Inc. now owns 9,570 shares of the medical technology company’s stock worth $3,446,000 after purchasing an additional 1,690 shares during the period. GAMMA Investing LLC raised its position in shares of Stryker by 65.1% in the fourth quarter. GAMMA Investing LLC now owns 4,789 shares of the medical technology company’s stock worth $1,724,000 after buying an additional 1,888 shares in the last quarter. Versant Capital Management Inc boosted its stake in Stryker by 16.5% during the fourth quarter. Versant Capital Management Inc now owns 1,121 shares of the medical technology company’s stock valued at $404,000 after buying an additional 159 shares during the period. Finally, Old Port Advisors grew its position in Stryker by 6.6% during the fourth quarter. Old Port Advisors now owns 996 shares of the medical technology company’s stock worth $359,000 after buying an additional 62 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

SYK stock traded down $1.03 during trading on Monday, reaching $360.49. The stock had a trading volume of 90,639 shares, compared to its average volume of 565,996. The firm has a market cap of $137.42 billion, a PE ratio of 38.64, a PEG ratio of 2.82 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $375.23 and its two-hundred day moving average is $357.19. Stryker Co. has a 52 week low of $294.34 and a 52 week high of $398.20.

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

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is 36.01%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYK. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Barclays lifted 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. Wells Fargo & Company increased their target price on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird lifted their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

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.