Tritonpoint Wealth LLC Has $844,000 Stake in Stryker Corporation $SYK

Tritonpoint Wealth LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 38.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,396 shares of the medical technology company’s stock after selling 1,516 shares during the period. Tritonpoint Wealth LLC’s holdings in Stryker were worth $844,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Clayton Financial Group LLC acquired a new position in shares of Stryker during the third quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in Stryker in the 3rd quarter valued at about $27,000. Howard Hughes Medical Institute bought a new position in Stryker in the second quarter worth approximately $29,000. Strive Asset Management LLC acquired a new stake in Stryker in the third quarter valued at approximately $30,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Stryker during the third quarter worth approximately $34,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the 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 sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Sanford C. Bernstein raised their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a report on Monday, January 26th. BTIG Research boosted their target price on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, William Blair restated an “outperform” rating on shares of Stryker in a report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $427.50.

Stryker Stock Performance

NYSE SYK opened at $331.48 on Friday. The company has a fifty day moving average price of $357.10 and a 200-day moving average price of $361.86. The firm has a market cap of $126.95 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 1 year low of $319.32 and a 1 year high of $404.87.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the previous year, the company earned $4.01 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio is currently 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.