Crossmark Global Holdings Inc. Grows Holdings in Stryker Corporation $SYK

Key Points

• Crossmark Global Holdings Inc. raised its stake in Stryker by 16.3% in Q3, owning 20,453 shares after buying an additional 2,863 shares, valued at about $7.56 million.
• Director Ronda E. Stryker sold 250,000 shares at an average of $362.92 for approximately $90,730,000, a 9.23% reduction in her holdings.
• Stryker beat Q results with EPS $4.47 vs. $4.40 expected and revenue of $7.17 billion (+11.4% YoY), announced a quarterly dividend of $0.88 (1.0% yield), and carries a consensus analyst rating of "Moderate Buy" with a $428.61 target.

Crossmark Global Holdings Inc. boosted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 20,453 shares of the medical technology company's stock after purchasing an additional 2,863 shares during the period. Crossmark Global Holdings Inc.'s holdings in Stryker were worth $7,561,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Clayton Financial Group LLC purchased a new stake in shares of Stryker in the third quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Stryker during the second quarter worth about $28,000. Kilter Group LLC acquired a new position in Stryker in the 2nd quarter valued at about $29,000. Howard Hughes Medical Institute purchased a new stake in Stryker during the 2nd quarter valued at approximately $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Stryker during the 3rd quarter valued at approximately $34,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares of the company's stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by company insiders.

Stryker Stock Down 1.7%

Stryker stock opened at $364.11 on Friday. The stock's 50 day moving average price is $365.45 and its 200 day moving average price is $369.14. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The company has a market cap of $139.34 billion, a PE ratio of 43.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.85. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.17 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the prior year, the business posted $4.01 earnings per share. Stryker's revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is currently 41.90%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYK. The Goldman Sachs Group set a $399.00 target price on Stryker in a research note on Friday, January 9th. Citigroup restated a "market outperform" rating on shares of Stryker in a research note on Friday, January 30th. Sanford C. Bernstein increased their price target on Stryker from $450.00 to $465.00 and gave the stock an "outperform" rating in a report on Friday, January 9th. William Blair reiterated an "outperform" rating on shares of Stryker in a research report on Thursday. Finally, Piper Sandler restated an "overweight" rating on shares of Stryker in a research report on Tuesday, January 27th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.61.

Stryker Company 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.

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