Fishman Jay A Ltd. MI Decreases Stock Position in Stryker Corporation $SYK

Fishman Jay A Ltd. MI trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,187 shares of the medical technology company’s stock after selling 1,735 shares during the period. Stryker makes up about 2.4% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 11th largest holding. Fishman Jay A Ltd. MI’s holdings in Stryker were worth $28,164,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SYK. Norges Bank purchased a new stake in shares of Stryker during the 2nd quarter valued at about $1,882,173,000. Alliancebernstein L.P. increased its position in shares of Stryker by 307.6% during the 2nd 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 last quarter. Corient Private Wealth LLC lifted its stake in shares of Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. ABN AMRO Bank N.V. bought a new position in shares of Stryker in the 2nd quarter worth approximately $191,047,000. Finally, Vanguard Group Inc. boosted its holdings 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 worth $13,253,831,000 after buying an additional 440,607 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.5%

Shares of SYK opened at $362.63 on Friday. The business’s 50 day moving average is $358.65 and its 200 day moving average is $371.05. 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. The company has a market capitalization of $138.68 billion, a PE ratio of 43.17, a price-to-earnings-growth ratio of 2.11 and a beta of 0.87.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion during 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 company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $4.01 EPS. Research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business 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. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a report on Monday, January 26th. Robert W. Baird set a $437.00 price objective on Stryker in a research note on Friday, January 30th. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. BTIG Research upped their price target on Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Evercore ISI set a $390.00 price objective on Stryker in a research note on Monday, January 5th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $426.56.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the 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 transaction, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is owned by insiders.

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.