Stonnington Group LLC Sells 2,705 Shares of Stryker Co. (NYSE:SYK)

Stonnington Group LLC decreased its stake in shares of Stryker Co. (NYSE:SYKGet Rating) by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,458 shares of the medical technology company’s stock after selling 2,705 shares during the period. Stryker comprises 1.0% of Stonnington Group LLC’s portfolio, making the stock its 29th largest holding. Stonnington Group LLC’s holdings in Stryker were worth $4,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cassady Schiller Wealth Management LLC purchased a new stake in Stryker during the fourth quarter valued at approximately $27,000. Retirement Group LLC increased its holdings in Stryker by 86.8% during the fourth quarter. Retirement Group LLC now owns 99 shares of the medical technology company’s stock valued at $27,000 after buying an additional 46 shares during the last quarter. Disciplined Investments LLC purchased a new stake in Stryker during the fourth quarter valued at approximately $28,000. Dixon Hughes Goodman Wealth Advisors LLC increased its holdings in Stryker by 10,700.0% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 108 shares of the medical technology company’s stock valued at $29,000 after buying an additional 107 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in Stryker during the fourth quarter valued at approximately $31,000. 74.52% of the stock is owned by institutional investors and hedge funds.

SYK stock traded up $2.66 during trading on Wednesday, hitting $198.36. 7,072 shares of the company’s stock traded hands, compared to its average volume of 1,112,918. Stryker Co. has a 52 week low of $193.66 and a 52 week high of $281.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.18 and a current ratio of 1.98. The business has a fifty day simple moving average of $234.36 and a 200 day simple moving average of $251.07. The stock has a market capitalization of $75.01 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 2.17 and a beta of 0.99.

Stryker (NYSE:SYKGet Rating) last released its quarterly earnings data on Thursday, April 28th. The medical technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.93 by $0.04. Stryker had a net margin of 11.56% and a return on equity of 24.09%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the business earned $1.93 earnings per share. Stryker’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts forecast that Stryker Co. will post 9.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.695 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.78 annualized dividend and a yield of 1.40%. Stryker’s dividend payout ratio (DPR) is currently 52.85%.

A number of brokerages have commented on SYK. BTIG Research upped their target price on shares of Stryker from $273.00 to $278.00 in a report on Monday, April 18th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Piper Sandler reduced their price objective on shares of Stryker from $315.00 to $290.00 in a research note on Friday, April 29th. Bank of America assumed coverage on shares of Stryker in a research note on Tuesday, March 1st. They issued a “buy” rating for the company. Finally, TheStreet cut shares of Stryker from a “b” rating to a “c+” rating in a research note on Monday, May 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $291.88.

Stryker Profile (Get Rating)

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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