Westpac Banking Corp Sells 4,704 Shares of Stryker Corporation $SYK

Westpac Banking Corp reduced its holdings in Stryker Corporation (NYSE:SYK) by 25.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,690 shares of the medical technology company’s stock after selling 4,704 shares during the quarter. Westpac Banking Corp’s holdings in Stryker were worth $5,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Stryker in the second quarter valued at $1,882,173,000. Alliancebernstein L.P. grew its holdings in Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC increased its position in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after acquiring an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Stryker in the second quarter worth about $191,047,000. Finally, Vanguard Group Inc. lifted its position in shares of Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Stryker stock opened at $384.16 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $147.02 billion, a P/E ratio of 45.73, a PEG ratio of 2.23 and a beta of 0.87. The business has a 50-day moving average of $361.87 and a 200-day moving average of $369.02. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.01 EPS. On average, equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Citigroup reissued a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Robert W. Baird set a $437.00 target price on Stryker in a research note on Friday, January 30th. Needham & Company LLC upped their price target on Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Finally, Sanford C. Bernstein upped their target price on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.47.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

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.