Phoenix Financial Ltd. Cuts Holdings in Stryker Corporation $SYK

Phoenix Financial Ltd. reduced its position in Stryker Corporation (NYSE:SYK) by 23.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,147 shares of the medical technology company’s stock after selling 5,798 shares during the period. Phoenix Financial Ltd.’s holdings in Stryker were worth $7,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker during the second quarter worth approximately $26,000. Clayton Financial Group LLC acquired a new position in shares of Stryker during the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Stryker during the 2nd quarter valued at $28,000. Sachetta LLC boosted its position in 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 acquired a new stake in Stryker in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.6%

Shares of NYSE:SYK opened at $357.16 on Tuesday. The company’s fifty day moving average is $359.72 and its two-hundred day moving average is $372.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The stock has a market capitalization of $136.59 billion, a price-to-earnings ratio of 46.93, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the firm earned $2.87 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

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

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the 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 completion of the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 522,118 shares of company stock worth $185,381,932 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SYK shares. Evercore ISI set a $390.00 target price on Stryker in a research report on Monday, January 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $448.00 price objective on shares of Stryker in a research report on Friday, November 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Citigroup reduced their target price on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $430.00.

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.