Dakota Wealth Management Sells 18,253 Shares of Stryker Corporation $SYK

Dakota Wealth Management lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 58.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,155 shares of the medical technology company’s stock after selling 18,253 shares during the period. Dakota Wealth Management’s holdings in Stryker were worth $4,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in SYK. Clayton Financial Group LLC bought a new position in Stryker during the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $28,000. Kilter Group LLC bought a new position in shares of Stryker during the 2nd quarter valued at approximately $29,000. Howard Hughes Medical Institute purchased a new position in shares of Stryker in the second quarter valued at $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Stryker in the third quarter worth $34,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 0.8%

Shares of NYSE SYK opened at $381.84 on Wednesday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The firm has a 50-day simple moving average of $361.24 and a two-hundred day simple moving average of $368.91. The company has a market cap of $146.13 billion, a P/E ratio of 45.46, a PEG ratio of 2.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the firm posted $4.01 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm’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 transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SYK shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a report on Monday, January 26th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group set a $399.00 target price on Stryker in a report on Friday, January 9th. 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, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $426.47.

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.