Applied Finance Capital Management LLC Reduces Stock Holdings in Stryker Corporation $SYK

Applied Finance Capital Management LLC cut its position in Stryker Corporation (NYSE:SYK) by 17.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,079 shares of the medical technology company’s stock after selling 6,851 shares during the period. Applied Finance Capital Management LLC’s holdings in Stryker were worth $12,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Stryker in the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new position in Stryker in the 3rd quarter worth approximately $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the 2nd quarter valued at approximately $28,000. Kilter Group LLC bought a new stake in Stryker during the 2nd quarter valued at $29,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of Stryker during the second quarter worth $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

SYK opened at $356.02 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $136.15 billion, a P/E ratio of 42.38, a PEG ratio of 2.10 and a beta of 0.87. The stock has a 50-day moving average price of $358.07 and a 200-day moving average price of $370.18. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $4.01 EPS. Equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In related news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction dated Thursday, November 20th. The stock was 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 directly owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 252,118 shares of company stock worth $91,504,172 over the last three months. Company insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein lifted their price target on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group set a $408.00 target price on shares of Stryker in a report on Monday, October 13th. TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a report on Monday, January 26th. Finally, BTIG Research boosted their price target on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.94.

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.