Richard Bernstein Advisors LLC Cuts Stock Holdings in Stryker Corporation $SYK

Richard Bernstein Advisors LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 61.9% in the third quarter, HoldingsChannel.com reports. The firm owned 4,090 shares of the medical technology company’s stock after selling 6,638 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Stryker were worth $1,512,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Promus Capital LLC bought a new stake in shares of Stryker during the 3rd quarter valued at about $223,000. Bank of Montreal Can grew its holdings in Stryker by 8.4% in the third quarter. Bank of Montreal Can now owns 478,389 shares of the medical technology company’s stock worth $176,846,000 after purchasing an additional 37,088 shares during the period. Legal & General Group Plc lifted its holdings in shares of Stryker by 4.4% during the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock valued at $851,457,000 after purchasing an additional 96,662 shares during the last quarter. Clarkston Capital Partners LLC boosted its position in shares of Stryker by 4.9% in the 3rd quarter. Clarkston Capital Partners LLC now owns 4,272 shares of the medical technology company’s stock worth $1,579,000 after purchasing an additional 200 shares in the last quarter. Finally, Fieldview Capital Management LLC purchased a new stake in shares of Stryker in the 3rd quarter worth approximately $1,956,000. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYK. Barclays reiterated an “overweight” rating and set a $469.00 price objective on shares of Stryker in a research note on Monday, February 2nd. William Blair restated an “outperform” rating on shares of Stryker in a report on Thursday, March 5th. Truist Financial dropped their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. UBS Group lifted their target price on shares of Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a research note on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $428.61.

Stryker Stock Down 1.9%

Shares of SYK stock opened at $358.83 on Wednesday. The company’s fifty day simple moving average is $365.82 and its two-hundred day simple moving average is $368.46. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The stock has a market cap of $137.32 billion, a P/E ratio of 42.72, a PEG ratio of 2.14 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.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders 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 yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Insider Activity at Stryker

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

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.