Applied Finance Capital Management LLC Sells 6,851 Shares of Stryker Corporation $SYK

Applied Finance Capital Management LLC trimmed its stake in shares of Stryker Corporation (NYSE:SYK) by 17.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,079 shares of the medical technology company’s stock after selling 6,851 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Stryker were worth $12,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Mid American Wealth Advisory Group Inc. bought a new position in Stryker during the second quarter worth $26,000. Clayton Financial Group LLC acquired a new stake in Stryker during the 3rd quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker during the second quarter worth approximately $28,000. Kilter Group LLC bought a new stake in Stryker in the second quarter worth approximately $29,000. Finally, Howard Hughes Medical Institute acquired a new position in Stryker in the second quarter valued at approximately $29,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Down 0.6%

NYSE SYK opened at $356.02 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $358.07 and a 200 day simple moving average of $370.18. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The firm has a market capitalization of $136.15 billion, a P/E ratio of 42.38, a PEG ratio of 2.10 and a beta of 0.87.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (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 during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the firm posted $4.01 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders 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 insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays reiterated an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a research note on Monday, February 2nd. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Sanford C. Bernstein increased their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Finally, Robert W. Baird set a $437.00 price objective on Stryker in a report on Friday, January 30th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $426.94.

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.