Godsey & Gibb Inc. Sells 724 Shares of Stryker Co. (NYSE:SYK)

Godsey & Gibb Inc. lowered its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 66,536 shares of the medical technology company's stock after selling 724 shares during the period. Stryker comprises about 2.4% of Godsey & Gibb Inc.'s investment portfolio, making the stock its 12th biggest position. Godsey & Gibb Inc.'s holdings in Stryker were worth $23,956,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SYK. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR increased its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker during the third quarter valued at about $36,000. Hara Capital LLC purchased a new stake in shares of Stryker during the third quarter worth about $42,000. Finally, HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter worth about $42,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 3.4 %

Stryker stock traded up $12.71 during trading hours on Thursday, hitting $381.32. The stock had a trading volume of 1,514,877 shares, compared to its average volume of 1,333,427. The stock's 50-day moving average price is $375.12 and its 200-day moving average price is $358.32. Stryker Co. has a 12-month low of $307.23 and a 12-month 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 stock has a market capitalization of $145.36 billion, a P/E ratio of 40.87, a price-to-earnings-growth ratio of 2.51 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 EPS. Equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. This is an increase from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker's dividend payout ratio (DPR) is presently 36.01%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on SYK. Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Barclays lifted their price target on shares of Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 target price on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $405.80.

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.