Stryker Corporation $SYK Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Key Points

• Insider sale: Director Ronda E. Stryker sold 250,000 shares at about $362.92 each (≈$90.73M), reducing her stake by 9.23%; insiders now own 4.60% of the company.
• Quarterly results beat: Stryker reported Q EPS of $4.47 vs. $4.40 expected and revenue of $7.17B (up 11.4% YoY), and analysts expect full-year EPS of about $14.92.
• Dividend and analyst view: The company declared a $0.88 quarterly dividend ($3.52 annual, 1.1% yield; ex-dividend March 31, payable April 30), while analysts hold a "Moderate Buy" consensus with a $421.11 average target.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,153,763 shares of the medical technology company's stock after selling 4,161 shares during the period. Stryker accounts for 3.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings, making the stock its 6th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.30% of Stryker worth $409,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clayton Financial Group LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $26,000. United Financial Planning Group LLC bought a new position in shares of Stryker in the 3rd quarter worth $27,000. Strive Asset Management LLC acquired a new stake in Stryker in the 3rd quarter valued at $30,000. ANTIPODES PARTNERS Ltd acquired a new stake in Stryker in the 3rd quarter valued at $34,000. Finally, Copia Wealth Management increased its stake in Stryker by 181.6% during the 3rd quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock valued at $40,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Stock Up 0.7%

SYK opened at $329.63 on Thursday. Stryker Corporation has a fifty-two week low of $319.32 and a fifty-two week high of $404.87. The firm has a market capitalization of $126.24 billion, a P/E ratio of 39.24, a PEG ratio of 1.91 and a beta of 0.92. The company's 50-day moving average is $351.26 and its 200 day moving average is $358.80. 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 issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the firm posted $4.01 EPS. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Stryker Corporation will post 14.92 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is presently 41.90%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein raised their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an "outperform" rating in a research note on Friday, January 9th. UBS Group decreased their target price on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $465.00 price target on shares of Stryker in a research report on Wednesday, March 4th. Robert W. Baird set a $437.00 price target on Stryker in a research note on Friday, January 30th. Finally, Truist Financial decreased their price objective on Stryker from $395.00 to $380.00 and set a "hold" rating for the company in a report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $421.11.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on 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 directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.