Vestmark Advisory Solutions Inc. Sells 4,545 Shares of Stryker Corporation $SYK

Vestmark Advisory Solutions Inc. cut its stake in Stryker Corporation (NYSE:SYK) by 60.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,918 shares of the medical technology company’s stock after selling 4,545 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Stryker were worth $1,079,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC raised its position in Stryker by 9.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 14,602 shares of the medical technology company’s stock valued at $5,398,000 after buying an additional 1,310 shares during the last quarter. Premier Fund Managers Ltd raised its holdings in shares of Stryker by 3.9% in the third quarter. Premier Fund Managers Ltd now owns 26,766 shares of the medical technology company’s stock valued at $9,898,000 after purchasing an additional 1,000 shares during the last quarter. Journey Advisory Group LLC lifted its position in shares of Stryker by 1.1% in the third quarter. Journey Advisory Group LLC now owns 4,547 shares of the medical technology company’s stock worth $1,681,000 after purchasing an additional 48 shares in the last quarter. Citigroup Inc. boosted its holdings in Stryker by 7.9% during the third quarter. Citigroup Inc. now owns 491,919 shares of the medical technology company’s stock worth $181,848,000 after purchasing an additional 35,853 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new position in Stryker in the third quarter valued at $34,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYK shares. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a report on Monday, January 26th. The Goldman Sachs Group set a $399.00 price target on Stryker in a research report on Friday, January 9th. Truist Financial decreased their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a research note on Tuesday, January 6th. Finally, Needham & Company LLC boosted their price objective on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $426.47.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $384.16 on Thursday. The company has a market capitalization of $147.02 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 2.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The company has a 50-day simple moving average of $361.87 and a 200 day simple moving average of $369.02.

Stryker (NYSE:SYK) last posted 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 company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.01 earnings per share. On average, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 0.9%. Stryker’s payout ratio is 41.90%.

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.