Stryker Corporation $SYK Holdings Cut by Bessemer Group Inc.

Bessemer Group Inc. decreased its stake in Stryker Corporation (NYSE:SYK) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,923 shares of the medical technology company’s stock after selling 440 shares during the quarter. Bessemer Group Inc.’s holdings in Stryker were worth $4,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker in the 2nd quarter worth approximately $26,000. Sachetta LLC lifted its position in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after buying an additional 27 shares in the last quarter. Ridgewood Investments LLC lifted its position in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Stryker in the 1st quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $369.17 on Thursday. The company has a market capitalization of $141.14 billion, a PE ratio of 48.90, a price-to-earnings-growth ratio of 2.71 and a beta of 0.94. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The company’s fifty day moving average price is $379.14 and its 200 day moving average price is $380.62.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is 44.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Evercore ISI cut their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Finally, Wells Fargo & Company raised their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $434.32.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 5.90% of the company’s stock.

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.