Stryker Corporation $SYK Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Stryker Corporation (NYSE:SYK) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,537,354 shares of the medical technology company’s stock after selling 366,348 shares during the quarter. Bank of New York Mellon Corp’s holdings in Stryker were worth $1,677,323,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Stryker during the second quarter worth $26,000. Clayton Financial Group LLC purchased a new stake in Stryker in the 3rd quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker in the 2nd quarter valued at about $28,000. Sachetta LLC increased its stake in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the last quarter. Finally, Kilter Group LLC acquired a new stake in shares of Stryker in the second quarter worth approximately $29,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 276,173 shares of Stryker 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 sale, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. The trade was a 9.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the company’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 transaction, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 522,118 shares of company stock valued at $185,381,932. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SYK shares. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research report on Friday, January 9th. UBS Group set a $408.00 target price on Stryker in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Truist Financial cut their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Finally, Wells Fargo & Company lifted their price objective on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Fifteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $427.95.

Stryker Trading Down 0.6%

Shares of SYK opened at $354.66 on Wednesday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The stock’s 50-day moving average is $359.63 and its two-hundred day moving average is $372.17. 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 stock has a market cap of $135.63 billion, a PE ratio of 46.60, a P/E/G ratio of 2.29 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion for 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 company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $2.87 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. Stryker’s payout ratio is currently 46.25%.

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.