Stryker Corporation $SYK is Bey Douglas LLC’s 8th Largest Position

Bey Douglas LLC decreased its position in Stryker Corporation (NYSE:SYK) by 25.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,627 shares of the medical technology company’s stock after selling 4,877 shares during the quarter. Stryker comprises 4.0% of Bey Douglas LLC’s investment portfolio, making the stock its 8th largest holding. Bey Douglas LLC’s holdings in Stryker were worth $5,407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Heritage Financial Services LLC acquired a new position in shares of Stryker during the 3rd quarter worth $214,000. Rogco LP increased its position in Stryker by 4.4% during the third quarter. Rogco LP now owns 1,389 shares of the medical technology company’s stock worth $513,000 after buying an additional 58 shares during the last quarter. Register Financial Advisors LLC bought a new position in Stryker during the third quarter valued at about $159,000. Stock Yards Bank & Trust Co. lifted its position in shares of Stryker by 1.0% in the third quarter. Stock Yards Bank & Trust Co. now owns 81,541 shares of the medical technology company’s stock worth $30,143,000 after buying an additional 772 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC increased its holdings in shares of Stryker by 5.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,844 shares of the medical technology company’s stock valued at $1,051,000 after acquiring an additional 146 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of 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. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of several analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Barclays boosted their price objective on shares of Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. UBS Group set a $408.00 target price on shares of Stryker in a research note on Monday, October 13th. Truist Financial cut their target price 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. Finally, Wells Fargo & Company raised their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $430.00.

Stryker Stock Performance

SYK opened at $362.75 on Thursday. The stock’s 50 day simple moving average is $360.21 and its 200-day simple moving average is $373.29. 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 stock has a market cap of $138.72 billion, a PE ratio of 47.67, a P/E/G ratio of 2.30 and a beta of 0.89. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

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

Stryker Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio (DPR) is presently 46.25%.

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.