Wilmington Savings Fund Society FSB Sells 3,697 Shares of Stryker Corporation $SYK

Key Points

• Wilmington Savings Fund Society FSB reduced its Stryker stake by 8.9%, selling 3,697 shares and holding 37,799 shares valued at $13.97 million in its latest SEC filing, while institutions own about 77.09% of SYK.
• Director Ronda E. Stryker sold 250,000 shares at an average price of $362.92 for roughly $90.73 million (a 9.23% reduction), leaving insiders with about 5.20% ownership.
• Analyst sentiment is largely positive—14 Buys vs. 5 Holds with an average target of $427.50—and Stryker recently beat quarterly EPS and revenue estimates; the stock trades near $349 and pays a $0.88 quarterly dividend (≈1.0% yield).

Wilmington Savings Fund Society FSB lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,799 shares of the medical technology company's stock after selling 3,697 shares during the period. Wilmington Savings Fund Society FSB's holdings in Stryker were worth $13,973,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYK. Vanguard Group Inc. lifted its holdings 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 valued at $12,485,012,000 after purchasing an additional 272,828 shares during the last quarter. State Street Corp grew its stake in Stryker by 1.0% during the 2nd 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 during the last quarter. Alliancebernstein L.P. increased its position in Stryker by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock valued at $2,342,987,000 after buying an additional 741,542 shares in the last quarter. Norges Bank acquired a new position in Stryker during the 2nd quarter valued at about $1,882,173,000. Finally, Legal & General Group Plc raised its stake in Stryker by 4.4% in the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company's stock valued at $851,457,000 after buying an additional 96,662 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the business'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 completion of the transaction, the director owned 2,457,331 shares of the company's stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research analyst reports. Raymond James Financial upgraded Stryker from a "market perform" rating to an "outperform" rating and set a $418.00 price target on the stock in a research note on Tuesday, January 6th. Evercore set a $390.00 target price on shares of Stryker in a research note on Monday, January 5th. Truist Financial cut their price target on shares of Stryker from $400.00 to $392.00 and set a "hold" rating on the stock in a research note on Thursday, December 18th. UBS Group decreased their price target on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $427.50.

Stryker Stock Performance

Shares of NYSE SYK opened at $349.19 on Wednesday. The company has a 50 day simple moving average of $364.88 and a two-hundred day simple moving average of $366.76. The stock has a market cap of $133.63 billion, a price-to-earnings ratio of 41.57, a PEG ratio of 2.04 and a beta of 0.85. 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 $328.23 and a 12 month high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.01 earnings per share. As a group, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid 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%.

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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