Pitcairn Co. Sells 3,018 Shares of Stryker Corporation $SYK

Pitcairn Co. lowered its position in Stryker Corporation (NYSE:SYK) by 30.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,774 shares of the medical technology company’s stock after selling 3,018 shares during the quarter. Pitcairn Co.’s holdings in Stryker were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Clayton Financial Group LLC purchased a new stake in shares of Stryker in the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the 2nd quarter worth $28,000. Kilter Group LLC bought a new stake in Stryker in the second quarter worth $29,000. Howard Hughes Medical Institute purchased a new stake in Stryker during the second quarter valued at about $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Stryker during the third quarter valued at about $34,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 3.1%

NYSE SYK opened at $370.07 on Friday. The stock has a market cap of $141.62 billion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 2.23 and a beta of 0.85. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The stock has a 50 day simple moving average of $365.25 and a two-hundred day simple moving average of $369.27. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last announced its 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 return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the company earned $4.01 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business 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 $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s dividend payout ratio is 41.90%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated 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 approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYK shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Truist Financial decreased their price target on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Needham & Company LLC raised their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a research note on Friday, December 19th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $428.61.

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.