Kesler Norman & Wride LLC Cuts Stake in Stryker Corporation $SYK

Kesler Norman & Wride LLC decreased its stake in Stryker Corporation (NYSE:SYK) by 50.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,691 shares of the medical technology company’s stock after selling 8,688 shares during the period. Kesler Norman & Wride LLC’s holdings in Stryker were worth $3,131,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SYK. Mid American Wealth Advisory Group Inc. purchased a new position in Stryker in the 2nd quarter worth approximately $26,000. Clayton Financial Group LLC acquired a new position in shares of Stryker during the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Stryker in the second quarter valued at $28,000. Sachetta LLC grew its holdings in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kilter Group LLC purchased a new stake in Stryker during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $367.75 on Friday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The firm has a market cap of $140.64 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 2.35 and a beta of 0.89. The stock has a 50 day moving average of $359.91 and a 200-day moving average of $375.16.

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

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. This is a positive change from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 46.25%.

Insiders Place Their Bets

In related news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 522,118 shares of company stock valued at $185,381,932 over the last quarter. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Redburn Partners set a $420.00 target price on Stryker in a research note on Thursday, September 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Raymond James Financial upgraded 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. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a research report on Friday, December 19th. Finally, Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $430.00.

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.