Stryker Corporation $SYK is Bonness Enterprises Inc.’s 2nd Largest Position

Bonness Enterprises Inc. cut its holdings in Stryker Corporation (NYSE:SYK) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,939 shares of the medical technology company’s stock after selling 1,550 shares during the quarter. Stryker makes up about 7.8% of Bonness Enterprises Inc.’s holdings, making the stock its 2nd biggest holding. Bonness Enterprises Inc.’s holdings in Stryker were worth $22,473,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SYK. Clayton Financial Group LLC bought a new position in Stryker during the 3rd quarter valued at approximately $26,000. United Financial Planning Group LLC bought a new stake in Stryker in the third quarter worth $27,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker in the second quarter worth $28,000. Kilter Group LLC bought a new position in shares of Stryker during the second quarter valued at $29,000. Finally, Howard Hughes Medical Institute bought a new position in shares of Stryker during the second quarter valued at $29,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

NYSE SYK opened at $327.49 on Friday. Stryker Corporation has a one year low of $324.93 and a one year high of $404.87. The stock has a 50-day moving average of $360.17 and a 200 day moving average of $363.70. 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 company has a market capitalization of $125.42 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 1.91 and a beta of 0.85.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the business earned $4.01 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of analyst reports. Robert W. Baird set a $437.00 price target on shares of Stryker in a research note on Friday, January 30th. Sanford C. Bernstein raised their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Truist Financial dropped their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Jefferies Financial Group reiterated a “buy” rating and set a $465.00 price target on shares of Stryker in a report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $427.50.

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.