Stryker Corporation $SYK Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 53.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,830 shares of the medical technology company’s stock after selling 5,594 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Stryker were worth $1,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares during the last quarter. State Street Corp grew its holdings in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after acquiring an additional 150,204 shares during the period. Geode Capital Management LLC raised its position in Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after acquiring an additional 79,654 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker during the second quarter worth $1,882,173,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.1%

NYSE:SYK opened at $364.17 on Tuesday. The company has a market cap of $139.27 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 2.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The stock’s fifty day moving average price is $360.39 and its two-hundred day moving average price is $373.60. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the previous year, the company posted $2.87 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is currently 46.25%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 522,118 shares of company stock valued at $185,381,932. 5.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Barclays boosted their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, Truist Financial decreased their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $430.00.

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.