Stryker Corporation $SYK Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP raised its Stryker stake 12% in Q3, acquiring ~99,996 shares to hold 933,161 shares (about 0.24% of the company) valued at roughly $345 million.
• Director Ronda E. Stryker sold 250,000 shares on Feb. 4 at an average $362.92 for about $90.73 million, trimming her position by 9.23% (insiders own 5.9% of the stock).
• Stryker beat quarterly estimates with EPS $4.47 vs. $4.40 and revenue $7.17B (up 11.4% YoY), declared a quarterly dividend of $0.88 (annualized $3.52, ~1.0% yield), and holds a consensus analyst rating of Moderate Buy with an average target of $428.61.

Dimensional Fund Advisors LP raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 933,161 shares of the medical technology company's stock after acquiring an additional 99,996 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.24% of Stryker worth $344,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Stryker by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company's stock worth $12,485,012,000 after purchasing an additional 272,828 shares during the last quarter. State Street Corp increased its position in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company's stock worth $5,929,765,000 after buying an additional 150,204 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company's stock worth $2,910,445,000 after acquiring an additional 79,654 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company's stock valued at $2,214,146,000 after acquiring an additional 4,223,366 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker in the second quarter valued at $1,882,173,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

SYK opened at $370.07 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The company's 50 day simple moving average is $365.25 and its 200 day simple moving average is $369.27. The stock has a market capitalization of $141.62 billion, a PE ratio of 44.06, a P/E/G ratio of 2.23 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts' consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.01 earnings per share. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research report on Friday, January 9th. Needham & Company LLC lifted their price target on shares of Stryker from $448.00 to $454.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Citizens Jmp raised shares of Stryker from a "market perform" rating to an "outperform" rating and set a $440.00 price objective on the stock in a research note on Friday, December 19th. Truist Financial decreased their target price on shares of Stryker from $400.00 to $392.00 and set a "hold" rating on the stock in a research report on Thursday, December 18th. Finally, UBS Group lifted their target price on shares of Stryker from $386.00 to $400.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $428.61.

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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