OneDigital Investment Advisors LLC Sells 8,594 Shares of Stryker Corporation $SYK

OneDigital Investment Advisors LLC decreased its position in shares of Stryker Corporation (NYSE:SYK) by 59.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,807 shares of the medical technology company’s stock after selling 8,594 shares during the period. OneDigital Investment Advisors LLC’s holdings in Stryker were worth $2,147,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SYK. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research report on Friday, December 19th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Saturday. Sanford C. Bernstein upped their price objective on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Needham & Company LLC lifted their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, BTIG Research upped their price target on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $426.47.

Insider Activity

In related news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was 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 $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by corporate insiders.

Stryker Stock Down 0.8%

Stryker stock opened at $381.84 on Wednesday. The firm has a market cap of $146.13 billion, a price-to-earnings ratio of 45.46, a PEG 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 company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a 50 day moving average price of $361.24 and a two-hundred day moving average price of $368.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.01 earnings per share. Equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm 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 $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 41.90%.

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.