Stryker Corporation $SYK Shares Sold by Retirement Guys Formula LLC

Retirement Guys Formula LLC lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 61.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,601 shares of the medical technology company’s stock after selling 2,501 shares during the period. Retirement Guys Formula LLC’s holdings in Stryker were worth $592,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SYK. Vanguard Group Inc. grew its position in shares of Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. State Street Corp lifted 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 buying an additional 150,204 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 worth $2,910,445,000 after buying an additional 79,654 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares during the last quarter. Finally, Norges Bank purchased a new stake in Stryker in the 2nd quarter valued at $1,882,173,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SYK. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Truist Financial reduced their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Barclays boosted their target price on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $448.00 price objective on shares of Stryker in a report on Friday, November 14th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $431.84.

Stryker Stock Performance

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

Stryker (NYSE:SYK) last released its quarterly earnings results 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 return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the firm earned $2.87 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is presently 46.25%.

Insider Buying and Selling at Stryker

In related news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on 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 approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 522,118 shares of company stock valued at $185,381,932 in the last three months. 5.90% of the stock is owned by corporate insiders.

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.