K.J. Harrison & Partners Inc Cuts Stake in Stryker Corporation $SYK

K.J. Harrison & Partners Inc lessened its position in Stryker Corporation (NYSE:SYK) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,585 shares of the medical technology company’s stock after selling 2,600 shares during the period. K.J. Harrison & Partners Inc’s holdings in Stryker were worth $4,978,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 target price on shares of Stryker in a report on Friday, November 14th. Needham & Company LLC boosted their price target on Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Evercore set a $390.00 price target on shares of Stryker in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.47.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director 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 filing with the SEC, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.7%

SYK stock opened at $384.16 on Thursday. The business’s 50-day moving average price is $361.87 and its 200-day moving average price is $369.02. The stock has a market cap of $147.02 billion, a P/E ratio of 45.73, a PEG ratio of 2.23 and a beta of 0.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter last year, the business earned $4.01 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given 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 is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 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.