Stryker Co. (NYSE:SYK) Shares Sold by Dividend Assets Capital LLC

Dividend Assets Capital LLC lowered its position in Stryker Co. (NYSE:SYK) by 44.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,268 shares of the medical technology company’s stock after selling 12,825 shares during the period. Dividend Assets Capital LLC’s holdings in Stryker were worth $6,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker during the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new position in Stryker during the fourth quarter worth $26,000. Rakuten Securities Inc. increased its position in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker during the fourth quarter worth $30,000. Finally, City Holding Co. increased its position in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $382.25 on Tuesday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The stock has a market capitalization of $145.90 billion, a P/E ratio of 49.26, a PEG ratio of 2.93 and a beta of 0.91. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $370.19 and its 200 day moving average price is $375.85.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent research reports. Evercore ISI dropped their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Truist Financial raised their price target on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Citigroup restated a “buy” rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.