Mesirow Financial Investment Management Inc. Sells 2,978 Shares of Stryker Co. (NYSE:SYK)

Mesirow Financial Investment Management Inc. reduced its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 16.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,158 shares of the medical technology company's stock after selling 2,978 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in Stryker were worth $5,461,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. J. W. Coons Advisors LLC grew its stake in shares of Stryker by 0.7% during the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock worth $1,315,000 after acquiring an additional 26 shares in the last quarter. Opal Wealth Advisors LLC grew its stake in shares of Stryker by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock valued at $654,000 after buying an additional 28 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Stryker by 2.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after buying an additional 28 shares in the last quarter. Alhambra Investment Management LLC grew its stake in shares of Stryker by 1.5% in the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company's stock valued at $719,000 after buying an additional 29 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in shares of Stryker by 4.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company's stock valued at $247,000 after buying an additional 29 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

SYK has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target on Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group lifted their target price on Stryker from $384.00 to $427.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $422.15.

Insider Buying and Selling

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

Stryker Trading Down 0.8 %

Shares of NYSE SYK traded down $3.03 during midday trading on Friday, hitting $379.28. 1,961,830 shares of the company traded hands, compared to its average volume of 1,209,637. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a 50-day moving average price of $382.45 and a 200 day moving average price of $372.99. The firm has a market cap of $144.73 billion, a P/E ratio of 48.88, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the company earned $3.46 EPS. As a group, analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Stryker Company 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.