Stryker Corporation $SYK Shares Sold by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC decreased its stake in shares of Stryker Corporation (NYSE:SYK) by 31.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,000 shares of the medical technology company’s stock after selling 6,000 shares during the period. Stryker comprises about 1.4% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 18th biggest holding. Sivik Global Healthcare LLC’s holdings in Stryker were worth $4,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Consolidated Portfolio Review Corp increased its holdings in shares of Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 26 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in Stryker by 16.9% during the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after purchasing an additional 26 shares during the last quarter. Sunflower Bank N.A. raised its holdings in shares of Stryker by 4.0% during the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 27 shares during the period. Pitti Group Wealth Management LLC boosted its holdings in shares of Stryker by 3.2% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after buying an additional 27 shares during the period. Finally, Sachetta LLC grew its position in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 522,118 shares of company stock worth $185,381,932. 5.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Redburn Partners set a $420.00 target price on Stryker in a research report on Thursday, September 18th. Truist Financial reduced their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Barclays lifted their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $448.00 target price on shares of Stryker in a research report on Friday, November 14th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $430.40.

Stryker Stock Performance

Shares of SYK opened at $366.46 on Wednesday. The firm has a market capitalization of $140.14 billion, a PE ratio of 48.16, a P/E/G ratio of 2.23 and a beta of 0.89. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $359.75 and a 200 day moving average price of $375.35. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same period in the prior year, the business posted $2.87 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is presently 46.25%.

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.