Stryker Corporation $SYK Stock Position Lowered by Bonness Enterprises Inc.

Bonness Enterprises Inc. lessened its stake in Stryker Corporation (NYSE:SYK) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,939 shares of the medical technology company’s stock after selling 1,550 shares during the period. Stryker comprises about 7.8% of Bonness Enterprises Inc.’s holdings, making the stock its 2nd largest holding. Bonness Enterprises Inc.’s holdings in Stryker were worth $22,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of SYK. Vanguard Group Inc. increased its stake in Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after purchasing an additional 272,828 shares during the period. State Street Corp boosted its stake in shares of Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after purchasing an additional 150,204 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Stryker by 13.3% during the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock valued at $2,342,987,000 after purchasing an additional 741,542 shares during the period. Legal & General Group Plc grew its holdings in shares of Stryker by 4.4% in the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock worth $851,457,000 after purchasing an additional 96,662 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after buying an additional 1,146,998 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. 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 report on Friday, December 19th. Truist Financial decreased their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. William Blair reaffirmed an “outperform” rating on shares of Stryker in a research note on Thursday, March 5th. TD Cowen lowered shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a report on Monday, January 26th. Finally, Citigroup restated a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.50.

Stryker Stock Performance

NYSE:SYK opened at $327.49 on Friday. 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’s fifty day simple moving average is $360.17 and its 200 day simple moving average is $363.70. The stock has a market cap of $125.42 billion, a P/E ratio of 38.99, a price-to-earnings-growth ratio of 1.91 and a beta of 0.85. Stryker Corporation has a twelve month low of $324.93 and a twelve month high of $404.87.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $4.01 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on 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 sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is owned by company insiders.

Stryker 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.