Boston Trust Walden Corp Reduces Position in Stryker Corporation $SYK

Boston Trust Walden Corp lowered its position in Stryker Corporation (NYSE:SYK) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287,909 shares of the medical technology company’s stock after selling 21,926 shares during the quarter. Stryker makes up approximately 0.8% of Boston Trust Walden Corp’s portfolio, making the stock its 25th biggest position. Boston Trust Walden Corp owned approximately 0.08% of Stryker worth $106,431,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker in the 2nd quarter valued at $26,000. Clayton Financial Group LLC acquired a new position in Stryker in the third quarter valued at $26,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Stryker during the second quarter worth about $28,000. Sachetta LLC grew its holdings in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after buying an additional 27 shares during the last quarter. Finally, Kilter Group LLC acquired a new position in Stryker in the 2nd quarter valued at about $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the company’s 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 sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 522,118 shares of company stock worth $185,381,932 in the last ninety days. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SYK shares. Rothschild & Co Redburn initiated coverage on Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Royal Bank Of Canada restated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. Truist Financial lowered their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Finally, Citigroup dropped their price target on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $431.84.

Stryker Trading Down 0.2%

Shares of SYK opened at $354.20 on Monday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $135.45 billion, a P/E ratio of 46.54, a PEG ratio of 2.51 and a beta of 0.89. The firm’s 50-day moving average is $363.78 and its two-hundred day moving average is $376.46.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period in the previous year, the firm earned $2.87 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio is 44.15%.

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.