New York Life Investment Management LLC Sells 1,403 Shares of Stryker Corporation $SYK

New York Life Investment Management LLC decreased its position in shares of Stryker Corporation (NYSE:SYK) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,205 shares of the medical technology company’s stock after selling 1,403 shares during the period. New York Life Investment Management LLC’s holdings in Stryker were worth $18,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker in the second quarter valued at about $26,000. Clayton Financial Group LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker in the 2nd quarter worth approximately $28,000. Kilter Group LLC purchased a new stake in Stryker during the 2nd quarter worth approximately $29,000. Finally, Howard Hughes Medical Institute purchased a new stake in Stryker during the 2nd quarter worth approximately $29,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 1.1%

Stryker stock opened at $358.49 on Monday. The business’s 50-day moving average price is $358.39 and its 200 day moving average price is $370.46. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The firm has a market cap of $137.09 billion, a price-to-earnings ratio of 42.68, a price-to-earnings-growth ratio of 2.10 and a beta of 0.87. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $4.01 EPS. The business’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio is 41.90%.

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Sanford C. Bernstein lifted their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Needham & Company LLC lifted their target price on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Barclays reiterated an “overweight” rating and issued a $469.00 price target on shares of Stryker in a report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $426.94.

Insider Transactions at Stryker

In other Stryker 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 transaction of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 252,118 shares of company stock valued at $91,504,172 in the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Stryker Company 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.