Bey Douglas LLC Has $5.41 Million Stock Holdings in Stryker Corporation $SYK

Bey Douglas LLC cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 25.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,627 shares of the medical technology company’s stock after selling 4,877 shares during the period. Stryker comprises approximately 4.0% of Bey Douglas LLC’s holdings, making the stock its 8th largest holding. Bey Douglas LLC’s holdings in Stryker were worth $5,407,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Stryker in the second quarter valued at $1,882,173,000. Alliancebernstein L.P. grew its holdings in Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC increased its position in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after acquiring an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Stryker in the second quarter worth about $191,047,000. Finally, Vanguard Group Inc. lifted its position in shares of Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.9%

NYSE:SYK opened at $362.75 on Thursday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The stock has a 50-day moving average price of $360.21 and a two-hundred day moving average price of $373.29. The stock has a market cap of $138.72 billion, a price-to-earnings ratio of 47.67, a PEG ratio of 2.30 and a beta of 0.89. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the business posted $2.87 EPS. Stryker’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities 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 paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase 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 payout ratio is presently 46.25%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a report on Tuesday, January 6th. Evercore ISI set a $390.00 price objective on Stryker in a research report on Monday, January 5th. Royal Bank Of Canada restated an “outperform” rating and set a $435.00 target price on shares of Stryker in a research report on Friday, November 14th. Barclays upped their price target on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $448.00 price objective on shares of Stryker in a research report on Friday, November 14th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $430.00.

Insider Activity

In other news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction on 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 sale, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock worth $185,381,932 over the last quarter. 5.90% of the stock is currently owned by company 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.