Westpac Banking Corp Sells 4,704 Shares of Stryker Corporation $SYK

Westpac Banking Corp reduced its stake in Stryker Corporation (NYSE:SYK) by 25.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,690 shares of the medical technology company’s stock after selling 4,704 shares during the quarter. Westpac Banking Corp’s holdings in Stryker were worth $5,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clayton Financial Group LLC acquired a new position in shares of Stryker during the third quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker in the 2nd quarter valued at approximately $28,000. Kilter Group LLC bought a new stake in Stryker in the 2nd quarter valued at approximately $29,000. Howard Hughes Medical Institute acquired a new position in Stryker during the 2nd quarter worth approximately $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Stryker during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. BTIG Research raised their price objective on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a report on Friday, January 30th. Barclays reiterated an “overweight” rating and set a $469.00 target price on shares of Stryker in a report on Monday, February 2nd. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Finally, Truist Financial dropped their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $426.47.

Stryker Stock Performance

Shares of NYSE SYK opened at $384.16 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $147.02 billion, a P/E ratio of 45.73, a P/E/G ratio of 2.23 and a beta of 0.87. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The stock has a 50 day moving average of $361.87 and a 200-day moving average of $369.02.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business 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 posted $4.01 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is presently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

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.