Stryker Corporation $SYK Shares Acquired by Rice Partnership LLC

Rice Partnership LLC raised its stake in shares of Stryker Corporation (NYSE:SYK) by 15.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,299 shares of the medical technology company’s stock after buying an additional 1,955 shares during the period. Rice Partnership LLC’s holdings in Stryker were worth $5,286,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Norges Bank acquired a new stake in shares of Stryker during the 2nd quarter worth $1,882,173,000. Alliancebernstein L.P. lifted its stake in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after acquiring an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. acquired a new stake in shares of Stryker during the 2nd quarter valued at approximately $191,047,000. Finally, Vanguard Group Inc. raised its holdings 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 worth $13,253,831,000 after purchasing an additional 440,607 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on SYK shares. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a report on Tuesday, January 6th. William Blair assumed coverage on Stryker in a research note on Friday. They issued an “outperform” rating on the stock. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a report on Friday, December 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $426.94.

Stryker Price Performance

Shares of Stryker stock opened at $384.82 on Tuesday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $360.63 and its two-hundred day moving average price is $368.88. The stock has a market cap of $147.27 billion, a PE ratio of 45.81, a price-to-earnings-growth ratio of 2.22 and a beta of 0.87.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.01 earnings per share. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued 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 of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio is currently 41.90%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.

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.