Segall Bryant & Hamill LLC Reduces Stock Holdings in Stryker Corporation $SYK

Segall Bryant & Hamill LLC reduced its position in Stryker Corporation (NYSE:SYK) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 53,021 shares of the medical technology company’s stock after selling 1,679 shares during the period. Segall Bryant & Hamill LLC’s holdings in Stryker were worth $19,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SYK. Norges Bank bought a new position in shares of Stryker during the 2nd quarter worth $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 worth $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Corient Private Wealth LLC boosted its position in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. ABN AMRO Bank N.V. purchased a new position in shares of Stryker in the second quarter worth about $191,047,000. Finally, Vanguard Group Inc. raised its position in shares of Stryker by 1.3% in 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 purchasing an additional 440,607 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the 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 transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is owned by insiders.

Stryker Price Performance

Stryker stock opened at $384.06 on Wednesday. The stock has a market cap of $146.98 billion, a price-to-earnings ratio of 45.72, a PEG ratio of 2.26 and a beta of 0.85. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $364.38 and a 200 day simple moving average of $369.17. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87.

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

Stryker Announces Dividend

The business also recently declared 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. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Analyst Upgrades and Downgrades

SYK has been the subject of several analyst reports. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a report on Friday, December 19th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Wells Fargo & Company lifted their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Robert W. Baird set a $437.00 price objective on Stryker in a research note on Friday, January 30th. Finally, Needham & Company LLC raised their target price on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.47.

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.