Dillon & Associates Inc. Has $31.51 Million Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• Dillon & Associates Inc. owns $31.51 million in Stryker Corporation, representing 4.7% of its portfolio, after reducing its holdings by 1.3% in the latest quarter.
• Director Ronda E. Stryker sold 200,000 shares for over $75 million, reducing her ownership by 5.84% while retaining shares valued at approximately $1.21 billion.
• Stryker Corporation reported earnings of $3.13 per share, exceeding estimates, with a revenue of $6.02 billion, marking an 11.1% year-over-year increase.

Dillon & Associates Inc. trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,711 shares of the medical technology company's stock after selling 1,118 shares during the period. Stryker comprises 4.7% of Dillon & Associates Inc.'s portfolio, making the stock its 4th largest position. Dillon & Associates Inc.'s holdings in Stryker were worth $31,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Capital A Wealth Management LLC acquired a new position in Stryker during the 4th quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new position in Stryker during the first quarter valued at approximately $32,000. City Holding Co. lifted its holdings in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the 1st quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Stryker during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.20% of the company's stock.

Stryker Stock Performance

Stryker stock opened at $377.73 on Monday. Stryker Corporation has a 1 year low of $322.03 and a 1 year high of $406.19. The company's 50-day moving average is $387.17 and its two-hundred day moving average is $379.98. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $144.41 billion, a PE ratio of 50.03, a PEG ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.81 EPS. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's payout ratio is presently 44.50%.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average price target of $430.10.

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.

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