QRG Capital Management Inc. Sells 12,319 Shares of Stryker Corporation $SYK

QRG Capital Management Inc. lowered its holdings in Stryker Corporation (NYSE:SYK) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,362 shares of the medical technology company’s stock after selling 12,319 shares during the quarter. QRG Capital Management Inc.’s holdings in Stryker were worth $20,835,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYK. Norges Bank purchased a new position in shares of Stryker in the 2nd quarter valued at $1,882,173,000. Alliancebernstein L.P. boosted its position 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 valued at $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC grew its stake in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. bought a new position in Stryker in the second quarter worth about $191,047,000. Finally, Vanguard Group Inc. lifted its position in shares of Stryker by 1.3% during 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 buying an additional 440,607 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $364.45 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company’s 50 day moving average is $360.20 and its 200 day moving average is $374.07. The company has a market cap of $139.37 billion, a PE ratio of 47.89, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.87 EPS. On average, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is 46.25%.

Analyst Ratings Changes

SYK has been the topic of a number of analyst reports. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. BTIG Research reaffirmed a “buy” rating and set a $410.00 price target on shares of Stryker in a research report on Friday, November 14th. Sanford C. Bernstein boosted their target price on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Truist Financial lowered their price target on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Finally, UBS Group set a $408.00 price objective on shares of Stryker in a report on Monday, October 13th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $430.00.

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.