Mar Vista Investment Partners LLC Has $30.67 Million Holdings in Stryker Corporation $SYK

Mar Vista Investment Partners LLC cut its stake in Stryker Corporation (NYSE:SYK) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,957 shares of the medical technology company’s stock after selling 1,905 shares during the period. Stryker accounts for about 2.7% of Mar Vista Investment Partners LLC’s investment portfolio, making the stock its 18th biggest position. Mar Vista Investment Partners LLC’s holdings in Stryker were worth $30,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SYK. Kovack Advisors Inc. lifted its holdings in Stryker by 3.6% during the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after buying an additional 27 shares in the last quarter. Armstrong Advisory Group Inc. lifted its stake in shares of Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after acquiring an additional 27 shares during the period. Venturi Wealth Management LLC boosted its holdings in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after acquiring an additional 27 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Stryker by 3.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 28 shares during the period. Finally, Wolff Wiese Magana LLC raised its holdings in Stryker by 2.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after purchasing an additional 28 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. Needham & Company LLC raised their target price on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a report on Tuesday, January 6th. Truist Financial cut their price target on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. UBS Group increased their target price on Stryker from $386.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Citigroup restated a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $426.47.

Insider Buying and Selling at Stryker

In related 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 transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of SYK stock opened at $384.16 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The company’s 50 day moving average price is $361.87 and its two-hundred day moving average price is $369.02. The company has a market capitalization of $147.02 billion, a P/E ratio of 45.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.87.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the firm earned $4.01 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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 issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is 41.90%.

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.