Gabelli Funds LLC Sells 2,800 Shares of Stryker Corporation $SYK

Gabelli Funds LLC trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 2.6% in the third quarter, HoldingsChannel.com reports. The fund owned 104,389 shares of the medical technology company’s stock after selling 2,800 shares during the period. Gabelli Funds LLC’s holdings in Stryker were worth $38,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after purchasing an additional 272,828 shares during the period. State Street Corp increased its position in shares of Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after purchasing an additional 150,204 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Stryker by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after purchasing an additional 79,654 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Stryker in the 2nd quarter worth about $1,882,173,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SYK. William Blair restated an “outperform” rating on shares of Stryker in a report on Thursday. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 target price on shares of Stryker in a research report on Friday, November 14th. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research note on Friday, December 19th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $428.61.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were 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 of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 1.7%

Shares of Stryker stock opened at $364.11 on Friday. The stock has a market capitalization of $139.34 billion, a P/E ratio of 43.35, a P/E/G ratio of 2.16 and a beta of 0.85. 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 stock’s 50-day simple moving average is $365.45 and its 200 day simple moving average is $369.14.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The firm 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 company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $4.01 earnings per share. As a group, research analysts anticipate 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. Investors 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 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Stryker Company 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.