Stryker Corporation $SYK Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC decreased its holdings in shares of Stryker Corporation (NYSE:SYK) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,581,516 shares of the medical technology company’s stock after selling 206,472 shares during the quarter. Parnassus Investments LLC owned about 0.41% of Stryker worth $584,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Mid American Wealth Advisory Group Inc. acquired a new position in Stryker during the 2nd quarter worth $26,000. Clayton Financial Group LLC acquired a new position in Stryker in the third quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Stryker during the 2nd quarter valued at about $28,000. Sachetta LLC raised 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 worth $29,000 after purchasing an additional 27 shares during the period. Finally, Kilter Group LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.1%

SYK opened at $367.75 on Friday. The company’s 50 day moving average price is $359.91 and its two-hundred day moving average price is $375.16. The firm has a market capitalization of $140.64 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 2.35 and a beta of 0.89. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13.

Stryker (NYSE:SYK) last released its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating 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 business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the prior year, the firm posted $2.87 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. Citigroup dropped their price objective on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. UBS Group set a $408.00 target price on Stryker in a research note on Monday, October 13th. Finally, Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $430.00.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

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.