Dearborn Partners LLC Sells 19,475 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Dearborn Partners LLC reduced its stake in Stryker Corporation by 18.7%, now holding 84,836 shares valued at approximately $31.58 million.
• Stryker reported a $2.84 EPS for the latest quarter, exceeding analysts' expectations, with revenue of $5.87 billion, marking an 11.9% increase year-over-year.
• Insider Ronda E. Stryker sold 200,000 shares for about $75.39 million, representing a 5.53% decrease in her holdings.

Dearborn Partners LLC lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 18.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 84,836 shares of the medical technology company's stock after selling 19,475 shares during the period. Stryker accounts for approximately 1.5% of Dearborn Partners LLC's portfolio, making the stock its 26th largest position. Dearborn Partners LLC's holdings in Stryker were worth $31,580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter worth $32,000. City Holding Co. grew its stake in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker in the 1st quarter worth $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker in the 4th quarter worth $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

Shares of SYK traded up $0.24 during midday trading on Wednesday, hitting $400.81. 1,077,201 shares of the company traded hands, compared to its average volume of 1,068,540. The stock has a 50-day moving average of $387.13 and a 200-day moving average of $379.97. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The firm has a market cap of $152.99 billion, a P/E ratio of 54.16, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 earnings per share. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 45.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SYK shares. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Truist Financial boosted their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Evercore ISI boosted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Roth Mkm boosted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $428.55.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker 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.