Pitti Group Wealth Management LLC Sells 182 Shares of Stryker Co. (NYSE:SYK)

Pitti Group Wealth Management LLC lowered its holdings in shares of Stryker Co. (NYSE:SYK) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,026 shares of the medical technology company’s stock after selling 182 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Stryker were worth $307,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Magellan Asset Management Ltd lifted its holdings in shares of Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after buying an additional 679,450 shares during the period. Barclays PLC lifted its holdings in shares of Stryker by 103.5% in the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after buying an additional 551,798 shares during the period. Morgan Stanley lifted its holdings in shares of Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Stryker by 24.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after buying an additional 217,672 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Stryker by 14.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after buying an additional 194,715 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Roth Mkm upped their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Citigroup upped their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $340.67.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the 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 transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock traded down $1.54 during mid-day trading on Friday, reaching $335.61. The stock had a trading volume of 1,063,790 shares, compared to its average volume of 1,108,426. The business’s fifty day moving average is $348.88 and its 200-day moving average is $315.16. 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 firm has a market cap of $127.69 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.70 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 earnings per share. On average, 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. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is presently 38.79%.

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.