Stryker Corporation $SYK Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lessened its holdings in Stryker Corporation (NYSE:SYK) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,006 shares of the medical technology company’s stock after selling 6,281 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.07% of Stryker worth $103,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after buying an additional 272,828 shares during the period. State Street Corp lifted its holdings in Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after acquiring an additional 150,204 shares during the last quarter. Geode Capital Management LLC boosted its stake in Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after acquiring an additional 79,654 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $1,882,173,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYK. Truist Financial lowered their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. UBS Group upped their price target on shares of Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. BTIG Research lifted their price objective on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Barclays reissued an “overweight” rating and set a $469.00 target price on shares of Stryker in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $426.47.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.20% of the company’s stock.

Stryker Trading Up 0.3%

Stryker stock opened at $387.34 on Monday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The stock has a market capitalization of $148.23 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.85. The firm has a 50 day simple moving average of $363.17 and a 200-day simple moving average of $369.09.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm 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 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 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 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is presently 41.90%.

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.