Wendell David Associates Inc. decreased its stake in Stryker Co. (NYSE:SYK - Free Report) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,928 shares of the medical technology company's stock after selling 740 shares during the quarter. Stryker accounts for about 4.3% of Wendell David Associates Inc.'s portfolio, making the stock its 6th largest position. Wendell David Associates Inc.'s holdings in Stryker were worth $43,180,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. FMR LLC increased its position in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC raised its stake in Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company's stock worth $2,484,893,000 after buying an additional 165,490 shares during the period. Clearbridge Investments LLC lifted its holdings in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock worth $790,554,000 after acquiring an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new position in Stryker in the third quarter valued at about $762,798,000. Institutional investors own 77.09% of the company's stock.
In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company's stock.
Shares of SYK stock opened at $390.31 on Thursday. The stock has a market cap of $148.79 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. 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 has a 50 day simple moving average of $375.78 and a 200 day simple moving average of $359.94.
Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $2.46 EPS. The company's revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker's dividend payout ratio (DPR) is currently 36.01%.
SYK has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Wells Fargo & Company lifted their price target on shares of Stryker from $405.00 to $427.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Tuesday, January 7th. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $405.80.
View Our Latest Stock Report on SYK
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.
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