Stryker Corporation $SYK Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 47.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,073 shares of the medical technology company’s stock after selling 1,853 shares during the period. Cinctive Capital Management LP’s holdings in Stryker were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in SYK. Armstrong Advisory Group Inc. lifted its stake in Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after purchasing an additional 27 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after purchasing an additional 27 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Stryker by 3.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 28 shares during the last quarter. Wolff Wiese Magana LLC raised its holdings in Stryker by 2.3% during the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after purchasing an additional 28 shares in the last quarter. Finally, Enterprise Financial Services Corp lifted its position in shares of Stryker by 4.3% during the 2nd quarter. Enterprise Financial Services Corp now owns 705 shares of the medical technology company’s stock worth $279,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other 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 transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.20% of the company’s stock.

Stryker Stock Up 3.9%

SYK stock opened at $349.89 on Tuesday. The company has a market cap of $133.90 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company has a fifty day moving average price of $365.22 and a 200 day moving average price of $367.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 12 month low of $328.23 and a 12 month high of $404.87.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business posted $4.01 earnings per share. Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Robert W. Baird set a $437.00 target price on shares of Stryker in a report on Friday, January 30th. Truist Financial reduced their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Jefferies Financial Group restated a “buy” rating and issued a $465.00 price objective on shares of Stryker in a research note on Wednesday, March 4th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Finally, Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a report on Friday, December 19th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $428.61.

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.