Vestmark Advisory Solutions Inc. Sells 4,545 Shares of Stryker Corporation $SYK

Vestmark Advisory Solutions Inc. trimmed its position in Stryker Corporation (NYSE:SYK) by 60.9% during the third quarter, HoldingsChannel.com reports. The fund owned 2,918 shares of the medical technology company’s stock after selling 4,545 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Stryker were worth $1,079,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its stake in Stryker by 9.9% in the third quarter. Bleakley Financial Group LLC now owns 14,602 shares of the medical technology company’s stock valued at $5,398,000 after buying an additional 1,310 shares in the last quarter. Premier Fund Managers Ltd increased its holdings in shares of Stryker by 3.9% during the third quarter. Premier Fund Managers Ltd now owns 26,766 shares of the medical technology company’s stock worth $9,898,000 after buying an additional 1,000 shares in the last quarter. Journey Advisory Group LLC raised its position in Stryker by 1.1% in the third quarter. Journey Advisory Group LLC now owns 4,547 shares of the medical technology company’s stock valued at $1,681,000 after purchasing an additional 48 shares during the last quarter. Citigroup Inc. raised its stake in shares of Stryker by 7.9% during the third quarter. Citigroup Inc. now owns 491,919 shares of the medical technology company’s stock valued at $181,848,000 after acquiring an additional 35,853 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Stryker in the third quarter valued at $34,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $384.16 on Thursday. The stock has a market cap 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. The business’s fifty day moving average is $361.87 and its 200 day moving average is $369.02. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. 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, topping the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.01 earnings per share. Sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. Stryker’s payout ratio is 41.90%.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYK shares. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. UBS Group lifted their price objective on Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a research note on Friday, December 19th. Finally, Evercore set a $390.00 price target on Stryker in a research note on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $426.47.

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.