Stryker Corporation $SYK Holdings Reduced by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC lowered its position in Stryker Corporation (NYSE:SYK) by 50.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,691 shares of the medical technology company’s stock after selling 8,688 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Stryker were worth $3,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Consolidated Portfolio Review Corp increased its position in Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 26 shares during the period. Princeton Global Asset Management LLC increased its holdings in shares of Stryker by 16.9% during the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after purchasing an additional 26 shares during the period. Sunflower Bank N.A. raised its stake in shares of Stryker by 4.0% during the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC lifted its holdings in Stryker by 3.2% in the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after purchasing an additional 27 shares during the period. Finally, Sachetta LLC grew its position in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

SYK opened at $367.75 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a market cap of $140.64 billion, a PE ratio of 48.32, a P/E/G ratio of 2.35 and a beta of 0.89. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $359.91 and a 200-day simple moving average of $375.16.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter last year, the business posted $2.87 EPS. Stryker’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.88 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s payout ratio is currently 46.25%.

Insider Buying and Selling

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 522,118 shares of company stock valued at $185,381,932. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of a number of research analyst reports. Evercore ISI set a $390.00 price target on shares of Stryker in a research note on Monday. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research note on Friday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $430.00.

Stryker Company 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.