Neo Ivy Capital Management Has $1.18 Million Holdings in Stryker Corporation $SYK

Neo Ivy Capital Management raised its stake in shares of Stryker Corporation (NYSE:SYK) by 229.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,188 shares of the medical technology company’s stock after buying an additional 2,220 shares during the period. Neo Ivy Capital Management’s holdings in Stryker were worth $1,179,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SYK. Vanguard Group Inc. raised its stake in shares of Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after acquiring an additional 272,828 shares in the last quarter. State Street Corp boosted its position in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after purchasing an additional 150,204 shares during the period. Geode Capital Management LLC grew its holdings in Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after purchasing an additional 79,654 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Finally, Norges Bank bought a new position in shares of Stryker in the second quarter valued at approximately $1,882,173,000. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SYK. Truist Financial decreased their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Citigroup reissued a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a report on Monday, January 26th. BTIG Research raised their price target on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company boosted their price objective on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $428.61.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction that occurred on 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 owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

NYSE:SYK opened at $364.11 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The company has a fifty day moving average price of $365.45 and a 200 day moving average price of $369.00. The stock has a market cap of $139.34 billion, a P/E ratio of 43.35, a PEG ratio of 2.13 and a beta of 0.85.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.07. The company 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%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $4.01 EPS. Analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s dividend payout ratio is 41.90%.

Stryker 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.