Peak Asset Management LLC Sells 637 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Peak Asset Management LLC reduced its stake in Stryker Corporation by 1.3%, now holding 48,446 shares valued at approximately $18 million, making it the 8th largest position in their portfolio.
• Director Ronda E. Stryker sold 200,000 shares of the company's stock for $75.39 million, which constitutes a 5.53% decrease in her position.
• Stryker recently reported earnings of $2.84 per share, exceeding analyst expectations, with a revenue increase of 11.9% year-over-year amounting to $5.87 billion.

Peak Asset Management LLC reduced its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,446 shares of the medical technology company's stock after selling 637 shares during the quarter. Stryker makes up about 3.4% of Peak Asset Management LLC's holdings, making the stock its 8th largest position. Peak Asset Management LLC's holdings in Stryker were worth $18,034,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Capital A Wealth Management LLC bought a new position in Stryker in the 4th quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the 1st quarter valued at $32,000. City Holding Co. raised its position in 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 purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in Stryker during the 1st quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Stryker during the 4th quarter valued at $42,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SYK. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. BTIG Research reissued a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Truist Financial lifted their target price on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Stock Down 0.1%

Shares of Stryker stock traded down $0.30 on Tuesday, reaching $400.39. The stock had a trading volume of 970,464 shares, compared to its average volume of 1,080,045. The company has a 50 day moving average price of $386.49 and a 200 day moving average price of $379.68. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The stock has a market capitalization of $152.82 billion, a P/E ratio of 31.98, a P/E/G ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted 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. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the business earned $2.50 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction 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 completion of the sale, the director owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is currently owned by company insiders.

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.