Wendell David Associates Inc. Has $43.34 Million Position in Stryker Co. (NYSE:SYK)

Wendell David Associates Inc. reduced its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 2.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 116,423 shares of the medical technology company's stock after selling 3,505 shares during the period. Stryker comprises 4.3% of Wendell David Associates Inc.'s portfolio, making the stock its 6th biggest position. Wendell David Associates Inc.'s holdings in Stryker were worth $43,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker during the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in Stryker during the 4th quarter valued at $26,000. Rakuten Securities Inc. raised its position in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Stryker in the 4th quarter worth $30,000. Finally, BankPlus Trust Department bought a new position in shares of Stryker in the 4th quarter worth $33,000. 77.09% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYK. Truist Financial boosted their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Evercore ISI reduced their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $427.30.

Stryker Stock Down 0.1%

Stryker stock opened at $377.05 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business's 50-day simple moving average is $373.53 and its two-hundred day simple moving average is $375.55. The company has a market cap of $143.91 billion, a PE ratio of 48.59, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 EPS. Equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Stryker Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.