Chicago Capital LLC Cuts Holdings in Stryker Corporation $SYK

Chicago Capital LLC trimmed its position in Stryker Corporation (NYSE:SYK) by 0.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 195,621 shares of the medical technology company’s stock after selling 1,773 shares during the period. Stryker comprises 1.8% of Chicago Capital LLC’s investment portfolio, making the stock its 19th biggest position. Chicago Capital LLC owned approximately 0.05% of Stryker worth $72,315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker during the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new position in Stryker in the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC bought a new position in Stryker in the 2nd quarter valued at $28,000. Sachetta LLC increased its position in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Finally, Kilter Group LLC bought a new stake in shares of Stryker during the 2nd quarter worth $29,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.2%

Stryker stock opened at $348.75 on Tuesday. The firm has a 50 day simple moving average of $359.94 and a 200 day simple moving average of $375.41. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The firm has a market capitalization of $133.37 billion, a price-to-earnings ratio of 45.83, a P/E/G ratio of 2.23 and a beta of 0.89.

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

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued 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 Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s payout ratio is presently 46.25%.

Insider Activity

In other news, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 522,118 shares of company stock worth $185,381,932 over the last ninety days. Company insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target 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. Citigroup dropped their target price 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. Needham & Company LLC reissued a “buy” rating and set a $448.00 target price on shares of Stryker in a research report on Friday, November 14th. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research note on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $431.05.

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.