Stryker Corporation $SYK Shares Sold by Payden & Rygel

Payden & Rygel lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 39.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,300 shares of the medical technology company’s stock after selling 21,200 shares during the quarter. Payden & Rygel’s holdings in Stryker were worth $11,940,000 at the end of the most recent reporting period.

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

Stryker Stock Performance

Shares of NYSE:SYK opened at $380.15 on Monday. The business has a 50-day moving average of $360.05 and a two-hundred day moving average of $368.82. The firm has a market capitalization of $145.48 billion, a PE ratio of 45.26, a P/E/G ratio of 2.22 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.01 EPS. As a group, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction 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 transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SYK shares. Sanford C. Bernstein boosted their price target on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Evercore set a $390.00 target price on Stryker in a research report on Monday, January 5th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a report on Tuesday, January 6th. Finally, Needham & Company LLC increased their price objective on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $426.94.

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.