DSM Capital Partners LLC Buys 14,225 Shares of Stryker Corporation $SYK

DSM Capital Partners LLC increased its position in shares of Stryker Corporation (NYSE:SYK) by 315.7% during the 3rd quarter, Holdings Channel reports. The fund owned 18,731 shares of the medical technology company’s stock after buying an additional 14,225 shares during the quarter. Stryker accounts for about 0.1% of DSM Capital Partners LLC’s investment portfolio, making the stock its 28th biggest holding. DSM Capital Partners LLC’s holdings in Stryker were worth $6,924,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in Stryker by 1.1% in the third quarter. Cerity Partners LLC now owns 317,999 shares of the medical technology company’s stock valued at $117,554,000 after purchasing an additional 3,419 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its position in shares of Stryker by 4.8% during the third quarter. SeaBridge Investment Advisors LLC now owns 7,810 shares of the medical technology company’s stock worth $2,887,000 after purchasing an additional 356 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Stryker by 4.3% in the 3rd quarter. Kathmere Capital Management LLC now owns 897 shares of the medical technology company’s stock valued at $332,000 after buying an additional 37 shares during the period. Gladstone Institutional Advisory LLC increased its holdings in shares of Stryker by 1.6% in the third quarter. Gladstone Institutional Advisory LLC now owns 2,410 shares of the medical technology company’s stock worth $891,000 after acquiring an additional 38 shares in the last quarter. Finally, Milestone Asset Management Group LLC increased its stake in Stryker by 26.6% during the 3rd quarter. Milestone Asset Management Group LLC now owns 753 shares of the medical technology company’s stock worth $278,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the sale, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 522,118 shares of company stock valued at $185,381,932. 5.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of several research reports. Rothschild & Co Redburn initiated coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective on the stock. BTIG Research restated a “buy” rating and issued a $410.00 price target on shares of Stryker in a report on Friday, November 14th. Wells Fargo & Company upped their price objective on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Evercore ISI set a $390.00 target price on Stryker in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $448.00 target price on shares of Stryker in a research note on Friday, November 14th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $430.40.

Stryker Price Performance

NYSE:SYK opened at $366.46 on Wednesday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a market cap of $140.14 billion, a P/E ratio of 48.16, a P/E/G ratio of 2.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The stock’s 50-day simple moving average is $359.75 and its 200 day simple moving average is $375.35.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.87 earnings per share. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change 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%.

Stryker Profile

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.