Victory Capital Management Inc. Cuts Stock Position in Stryker Corporation $SYK

Key Points

• Victory Capital Management trimmed its stake in Stryker by 3.9%, selling 4,725 shares in Q3 and ending the quarter with 116,950 shares worth about $43.2 million.
• Director Ronda E. Stryker sold 250,000 shares on Feb. 4 for roughly $90.73 million, a 9.23% reduction in her position; insiders now own 5.90% of the stock.
• Stryker beat quarterly estimates with $4.47 EPS vs. $4.40 and revenue of $7.17 billion (up 11.4% YoY), and announced a quarterly dividend of $0.88 per share (1.0% yield).

Victory Capital Management Inc. reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,950 shares of the medical technology company's stock after selling 4,725 shares during the quarter. Victory Capital Management Inc.'s holdings in Stryker were worth $43,233,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Davis R M Inc. lifted its position in Stryker by 1.8% during the 3rd quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company's stock valued at $51,285,000 after acquiring an additional 2,512 shares during the period. Terra Alpha Investments LLC bought a new stake in Stryker during the third quarter worth about $1,216,000. Diversified Trust Co grew its holdings in Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company's stock worth $4,601,000 after purchasing an additional 3,899 shares during the period. SVB Wealth LLC bought a new position in shares of Stryker during the second quarter valued at approximately $4,785,000. Finally, AXQ Capital LP bought a new position in shares of Stryker during the second quarter valued at approximately $567,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Stryker from $452.00 to $456.00 and gave the stock an "overweight" rating in a report on Friday, November 14th. Sanford C. Bernstein raised their price target on Stryker from $450.00 to $465.00 and gave the company an "outperform" rating in a report on Friday, January 9th. Robert W. Baird set a $437.00 price target on Stryker in a research report on Friday, January 30th. Barclays reiterated an "overweight" rating and issued a $469.00 price target on shares of Stryker in a research note on Monday, February 2nd. Finally, UBS Group raised their price objective on shares of Stryker from $386.00 to $400.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average price target of $428.61.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm'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 transaction of $90,730,000.00. Following the completion of the transaction, the director 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 filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by insiders.

Stryker Stock Down 1.7%

Shares of SYK stock opened at $364.11 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The stock has a market cap of $139.34 billion, a P/E ratio of 43.35, a P/E/G ratio of 2.13 and a beta of 0.85. The company has a 50 day simple moving average of $365.45 and a two-hundred day simple moving average of $369.00.

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

Stryker Dividend Announcement

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

About Stryker

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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