Dillon & Associates Inc. Has $31.51 Million Stake in Stryker Corporation (NYSE:SYK)

Dillon & Associates Inc. decreased its holdings in Stryker Corporation (NYSE:SYK) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,711 shares of the medical technology company’s stock after selling 1,118 shares during the period. Stryker comprises approximately 4.7% of Dillon & Associates Inc.’s investment portfolio, making the stock its 4th biggest holding. Dillon & Associates Inc.’s holdings in Stryker were worth $31,512,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SYK. Capital A Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new position in Stryker during the first quarter worth about $32,000. City Holding Co. grew its position in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker in the fourth quarter valued at approximately $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.4%

Shares of SYK stock opened at $377.73 on Monday. The stock has a 50-day moving average of $387.17 and a 200-day moving average of $379.98. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a market cap of $144.41 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 1-year low of $322.03 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company posted $2.81 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is currently 44.50%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a “hold” rating in a research report on Monday, August 4th. Finally, BTIG Research reiterated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

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 on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is owned by corporate insiders.

Stryker Company Profile

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.