Richard Bernstein Advisors LLC Has $1.51 Million Position in Stryker Corporation $SYK

Key Points

• Richard Bernstein Advisors LLC reduced its stake in Stryker by 61.9% in Q3, selling 6,638 shares and now holds 4,090 shares valued at about $1.51 million.
• Director Ronda E. Stryker sold 250,000 shares on Feb. 4 at an average of $362.92 for roughly $90.73 million, cutting her position by about 9.23%.
• Stryker beat Q4 estimates with $4.47 EPS vs. $4.40 expected and $7.17B revenue (up 11.4% YoY), declared a $0.88 quarterly dividend, and carries a consensus "Moderate Buy" analyst rating with an average target of $428.61.

Richard Bernstein Advisors LLC lessened its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 61.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,090 shares of the medical technology company's stock after selling 6,638 shares during the period. Richard Bernstein Advisors LLC's holdings in Stryker were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SYK. Clayton Financial Group LLC bought a new stake in Stryker during the third quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Stryker in the 2nd quarter valued at $28,000. Kilter Group LLC bought a new position in shares of Stryker in the 2nd quarter valued at $29,000. Howard Hughes Medical Institute acquired a new position in shares of Stryker during the 2nd quarter worth $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Stryker during the 3rd quarter worth $34,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.9%

NYSE:SYK opened at $358.83 on Wednesday. The company has a market cap of $137.32 billion, a PE ratio of 42.72, a PEG ratio of 2.14 and a beta of 0.85. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The firm has a 50-day moving average of $365.82 and a 200-day moving average of $368.46. 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 results 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. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period in the previous year, the company earned $4.01 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on SYK. Barclays reissued an "overweight" rating and set a $469.00 target price on shares of Stryker in a research note on Monday, February 2nd. Wells Fargo & Company lifted their price target on shares of Stryker from $452.00 to $456.00 and gave the company an "overweight" rating in a report on Friday, November 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. Jefferies Financial Group reissued a "buy" rating and issued a $465.00 price objective on shares of Stryker in a research note on Wednesday, March 4th. Finally, TD Cowen lowered shares of Stryker from a "buy" rating to a "hold" rating and set a $387.00 target price on the stock. in a research report on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average target price of $428.61.

Insider Activity

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was 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. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

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.

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