Ninety One UK Ltd Cuts Holdings in Stryker Corporation $SYK

Ninety One UK Ltd lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 2.7% during the third quarter, Holdings Channel reports. The firm owned 59,308 shares of the medical technology company’s stock after selling 1,640 shares during the period. Ninety One UK Ltd’s holdings in Stryker were worth $21,924,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SYK. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker in the second quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker in the second quarter valued at $28,000. Sachetta LLC increased its holdings in Stryker by 58.7% in the second 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. Finally, Kilter Group LLC acquired a new position in Stryker during the second quarter worth $29,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on SYK shares. Rothschild & Co Redburn began coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. UBS Group set a $408.00 target price on shares of Stryker in a research report on Monday, October 13th. Evercore ISI dropped their price target on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Citigroup decreased their price target on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $431.84.

Insider Buying and Selling

In related news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 522,118 shares of company stock valued at $185,381,932 in the last quarter. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $351.28 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $361.31 and a 200-day moving average of $375.75. The stock has a market cap of $134.34 billion, a P/E ratio of 46.16, a price-to-earnings-growth ratio of 2.49 and a beta of 0.89. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the previous year, the company posted $2.87 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts expect 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. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s payout ratio is currently 46.25%.

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.