Transcend Capital Advisors LLC Has $2.43 Million Stock Position in Stryker Corporation $SYK

Key Points

• Transcend Capital Advisors LLC cut its stake in Stryker by 31.3% in Q4 to 6,916 shares, valued at about $2.43 million.
• Insider sale: Director Ronda E. Stryker sold 250,000 shares for roughly $90.73 million, reducing her ownership by 9.23% (insiders now own about 4.6% of the company).
• Company outlook: Stryker beat quarterly estimates (EPS $4.47 vs $4.40; revenue $7.17B, +11.4% YoY), has a consensus "Moderate Buy" with a $422.53 price target, and declared a $0.88 quarterly dividend (1.0% yield).

Transcend Capital Advisors LLC reduced its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,916 shares of the medical technology company's stock after selling 3,158 shares during the quarter. Transcend Capital Advisors LLC's holdings in Stryker were worth $2,431,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SYK. Clayton Financial Group LLC acquired a new position in Stryker during the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new position in Stryker during the 3rd quarter worth approximately $27,000. Strive Asset Management LLC acquired a new position in Stryker during the 3rd quarter worth approximately $30,000. ANTIPODES PARTNERS Ltd bought a new stake in Stryker during the 3rd quarter worth approximately $34,000. Finally, Copia Wealth Management raised its stake in shares of Stryker by 181.6% in the third quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock worth $40,000 after purchasing an additional 69 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on SYK. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. William Blair reissued an "outperform" rating on shares of Stryker in a research note on Thursday, March 5th. Citizens Jmp raised Stryker from a "market perform" rating to an "outperform" rating and set a $440.00 price objective for the company in a research note on Friday, December 19th. BTIG Research increased their price objective on Stryker from $410.00 to $412.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Raymond James Financial raised Stryker from a "market perform" rating to an "outperform" rating and set a $418.00 price objective for the company in a research note on Tuesday, January 6th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $422.53.

Stryker Stock Performance

SYK stock opened at $347.28 on Tuesday. The firm has a market cap of $133.00 billion, a PE ratio of 41.34, a P/E/G ratio of 1.98 and a beta of 0.92. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $354.45 and a 200-day moving average of $360.24. Stryker Corporation has a 12-month low of $319.32 and a 12-month high of $404.87.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued 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 dividend payout ratio is currently 41.90%.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 2,457,331 shares of the company's stock, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.60% 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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