TD Asset Management Inc Reduces Stake in Stryker Corporation $SYK

TD Asset Management Inc lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 995,155 shares of the medical technology company’s stock after selling 152,698 shares during the period. TD Asset Management Inc’s holdings in Stryker were worth $367,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Clayton Financial Group LLC bought a new position in shares of Stryker during the 3rd quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new stake in Stryker in the 2nd quarter valued at about $28,000. Kilter Group LLC purchased a new stake in Stryker during the second quarter valued at about $29,000. Howard Hughes Medical Institute bought a new position in Stryker during the second quarter worth about $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Stryker in the third quarter worth about $34,000. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.20% of the stock is owned by insiders.

Stryker Trading Down 0.8%

Shares of SYK stock opened at $381.84 on Wednesday. The company has a market capitalization of $146.13 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 2.25 and a beta of 0.87. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The business’s fifty day moving average is $361.24 and its 200 day moving average is $368.91. 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 (NYSE:SYK) last released its quarterly earnings results 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. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter last year, the firm posted $4.01 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS 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 paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SYK shares. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. UBS Group raised their price target on Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial dropped their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.47.

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.