Stryker Corporation $SYK Shares Sold by Payden & Rygel

Payden & Rygel lessened its stake in Stryker Corporation (NYSE:SYK) by 39.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,300 shares of the medical technology company’s stock after selling 21,200 shares during the period. Payden & Rygel’s holdings in Stryker were worth $11,940,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SYK. Kovack Advisors Inc. increased its holdings in shares of Stryker by 3.6% in the second quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock valued at $305,000 after purchasing an additional 27 shares during the period. Armstrong Advisory Group Inc. grew its position in Stryker by 12.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after buying an additional 27 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Stryker by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after buying an additional 27 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in Stryker by 3.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after buying an additional 28 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its stake in shares of Stryker by 2.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after acquiring an additional 28 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SYK shares. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Weiss Ratings reissued 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 target on Stryker in a research note on Friday, January 9th. Finally, Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a report on Tuesday, January 6th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is owned by corporate insiders.

Stryker Price Performance

SYK stock opened at $380.15 on Monday. The firm has a 50 day moving average of $360.05 and a 200-day moving average of $368.82. The company has a market cap of $145.48 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.22 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 12-month low of $329.16 and a 12-month 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, beating the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’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. As a group, equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

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.