Destination Wealth Management Has $25.22 Million Holdings in Stryker Co. (NYSE:SYK)

Destination Wealth Management cut its holdings in Stryker Co. (NYSE:SYK - Free Report) by 1.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 70,052 shares of the medical technology company's stock after selling 1,091 shares during the quarter. Destination Wealth Management's holdings in Stryker were worth $25,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Chicago Capital LLC lifted its stake in Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock valued at $70,228,000 after acquiring an additional 5,841 shares in the last quarter. Zhang Financial LLC lifted its stake in Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock valued at $41,366,000 after acquiring an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA lifted its stake in Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after acquiring an additional 1,400 shares in the last quarter. Metis Global Partners LLC lifted its stake in Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after acquiring an additional 1,561 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after acquiring an additional 976 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays boosted their target price on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group upped their price objective on Stryker from $384.00 to $427.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $422.15.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company's stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE SYK traded down $3.03 on Friday, reaching $379.28. The stock had a trading volume of 1,961,830 shares, compared to its average volume of 1,209,637. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a fifty day moving average of $382.45 and a two-hundred day moving average of $372.99. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a market cap of $144.73 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts' consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the business posted $3.46 EPS. On average, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker's dividend payout ratio is 43.30%.

Stryker Profile

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.