Horizon Wealth Management LLC Decreases Stake in Stryker Corporation $SYK

Horizon Wealth Management LLC lowered its stake in Stryker Corporation (NYSE:SYK) by 5.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,076 shares of the medical technology company’s stock after selling 63 shares during the period. Horizon Wealth Management LLC’s holdings in Stryker were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. Nuveen LLC purchased a new position in shares of Stryker in the first quarter worth $558,075,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after buying an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock worth $511,152,000 after buying an additional 549,643 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after buying an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after buying an additional 261,058 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 1.8%

SYK stock opened at $369.17 on Thursday. The firm has a market cap of $141.14 billion, a PE ratio of 48.90, a P/E/G ratio of 2.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm’s fifty day moving average is $379.14 and its 200 day moving average is $380.62. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $2.81 earnings per share. On average, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SYK. Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday, September 18th. UBS Group set a $408.00 price objective on shares of Stryker in a research note on Monday, October 13th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. BTIG Research increased their price objective on shares of Stryker from $407.00 to $408.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Truist Financial cut their price objective on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $434.32.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is currently owned by company insiders.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.