Stryker Corporation $SYK Stock Holdings Cut by Twin Capital Management Inc.

Twin Capital Management Inc. lessened its position in Stryker Corporation (NYSE:SYK) by 41.4% during the third quarter, Holdings Channel reports. The institutional investor owned 4,923 shares of the medical technology company’s stock after selling 3,475 shares during the quarter. Twin Capital Management Inc.’s holdings in Stryker were worth $1,820,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SYK. Vanguard Group Inc. lifted its holdings in Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after acquiring an additional 440,607 shares during the last quarter. State Street Corp raised its holdings in shares of Stryker by 1.0% in the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after purchasing an additional 150,204 shares in the last quarter. Geode Capital Management LLC lifted its stake in Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after purchasing an additional 79,654 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Finally, Norges Bank acquired a new position in Stryker in the second quarter worth approximately $1,882,173,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 252,118 shares of company stock worth $91,504,172. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of SYK opened at $358.49 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a market cap of $137.09 billion, a PE ratio of 42.68, a PEG ratio of 2.12 and a beta of 0.87. The firm’s 50 day moving average price is $358.39 and its 200 day moving average price is $370.85. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the business posted $4.01 EPS. Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s payout ratio is currently 41.90%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYK. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research note on Monday, January 26th. Robert W. Baird set a $437.00 price target on Stryker in a research report on Friday, January 30th. Needham & Company LLC boosted their price objective on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Finally, UBS Group set a $408.00 target price on shares of Stryker in a research report on Monday, October 13th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.94.

Stryker Company 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.