Ninety One UK Ltd Sells 1,640 Shares of Stryker Corporation $SYK

Ninety One UK Ltd lessened its stake in Stryker Corporation (NYSE:SYK) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,308 shares of the medical technology company’s stock after selling 1,640 shares during the period. Ninety One UK Ltd’s holdings in Stryker were worth $21,924,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SYK. Mid American Wealth Advisory Group Inc. purchased a new position in Stryker during the 2nd quarter worth $26,000. Clayton Financial Group LLC purchased a new stake in Stryker in the third quarter worth about $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker during the 2nd quarter valued at about $28,000. Sachetta LLC raised its holdings in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kilter Group LLC purchased a new stake in shares of Stryker in the 2nd quarter worth approximately $29,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup lowered their target price on Stryker from $455.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 target price on shares of Stryker in a research note on Friday, November 14th. Barclays increased their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. BTIG Research reiterated a “buy” rating and set a $410.00 price objective on shares of Stryker in a research note on Friday, November 14th. Finally, Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $431.84.

Stryker Stock Performance

Shares of SYK stock opened at $351.28 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm has a market capitalization of $134.34 billion, a price-to-earnings ratio of 46.16, a price-to-earnings-growth ratio of 2.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The business has a fifty day moving average of $361.31 and a 200 day moving average of $375.75.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the prior year, the company earned $2.87 EPS. Stryker’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio is presently 46.25%.

Insider Activity

In other news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 522,118 shares of company stock valued at $185,381,932 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.