Stryker Corporation $SYK Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,157 shares of the medical technology company’s stock after selling 2,587 shares during the quarter. Cresset Asset Management LLC’s holdings in Stryker were worth $6,357,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Stryker in the second quarter valued at about $1,882,173,000. Alliancebernstein L.P. grew its position in shares of Stryker by 307.6% in 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 in the last quarter. Corient Private Wealth LLC increased its holdings in shares of 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 during the last quarter. Strive Asset Management LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at approximately $227,389,000. Finally, ABN AMRO Bank N.V. bought a new position in Stryker during the second quarter worth $191,047,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research reports. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a report on Friday, January 9th. Needham & Company LLC boosted their price objective on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group reissued a “buy” rating and issued a $465.00 target price on shares of Stryker in a report on Wednesday. Wells Fargo & Company upped their target price on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Sanford C. Bernstein increased their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $428.61.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.90% of the company’s stock.

Stryker Trading Down 3.1%

Shares of SYK stock opened at $370.07 on Friday. The stock has a 50-day simple moving average of $365.25 and a 200 day simple moving average of $369.27. The stock has a market capitalization of $141.62 billion, a P/E ratio of 44.06, a P/E/G ratio of 2.23 and a beta of 0.85. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued 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 firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the previous year, the business earned $4.01 earnings per share. Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio is currently 41.90%.

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.