D.A. Davidson & CO. Sells 2,996 Shares of Stryker Corporation $SYK

D.A. Davidson & CO. trimmed its position in Stryker Corporation (NYSE:SYK) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,846 shares of the medical technology company’s stock after selling 2,996 shares during the period. D.A. Davidson & CO.’s holdings in Stryker were worth $30,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. United Financial Planning Group LLC bought a new stake in Stryker in the 3rd quarter valued at about $27,000. Strive Asset Management LLC bought a new stake in Stryker during the 3rd quarter worth approximately $30,000. ANTIPODES PARTNERS Ltd bought a new stake in Stryker during the 3rd quarter worth approximately $34,000. Copia Wealth Management increased its holdings in Stryker by 181.6% during the 3rd quarter. Copia Wealth Management now owns 107 shares of the medical technology company’s stock worth $40,000 after purchasing an additional 69 shares in the last quarter. Finally, WPG Advisers LLC increased its holdings in Stryker by 156.8% during the 3rd quarter. WPG Advisers LLC now owns 113 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 69 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group decreased their price objective on Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. The Goldman Sachs Group decreased their price objective on Stryker from $403.00 to $357.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Barclays reissued an “overweight” rating and set a $469.00 price objective on shares of Stryker in a report on Monday, February 2nd. Finally, Citigroup decreased their price objective on Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $421.11.

Stryker Stock Performance

SYK stock opened at $327.84 on Monday. The firm has a market cap of $125.56 billion, a PE ratio of 39.03, a P/E/G ratio of 1.92 and a beta of 0.92. 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 business has a 50 day moving average of $349.77 and a 200-day moving average of $358.14. Stryker Corporation has a 12-month low of $319.32 and a 12-month high of $404.87.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.01 earnings per share. As a group, sell-side analysts expect that Stryker Corporation will post 14.91 earnings per share for the current year.

Stryker Dividend Announcement

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 issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio is currently 41.90%.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.60% of the stock is currently owned by corporate 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.