Bank of New York Mellon Corp Decreases Stake in Stryker Corporation (NYSE:SYK)

Bank of New York Mellon Corp decreased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,153,097 shares of the medical technology company's stock after selling 202,474 shares during the quarter. Bank of New York Mellon Corp owned about 1.35% of Stryker worth $1,918,240,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. World Investment Advisors raised its stake in Stryker by 4.7% during the first quarter. World Investment Advisors now owns 11,088 shares of the medical technology company's stock valued at $4,128,000 after buying an additional 495 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Stryker during the first quarter valued at $166,000. Olde Wealth Management LLC purchased a new position in Stryker during the first quarter valued at $139,000. Capital Investment Advisory Services LLC raised its stake in Stryker by 11.9% during the first quarter. Capital Investment Advisory Services LLC now owns 3,193 shares of the medical technology company's stock valued at $1,189,000 after buying an additional 339 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in Stryker by 45.2% during the first quarter. Catalyst Capital Advisors LLC now owns 527 shares of the medical technology company's stock valued at $196,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business'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 transaction, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Finally, Citigroup restated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Stock Performance

NYSE:SYK traded up $0.19 during mid-day trading on Friday, hitting $392.00. 536,295 shares of the company traded hands, compared to its average volume of 1,348,236. The stock's fifty day moving average price is $382.92 and its 200-day moving average price is $376.13. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a market cap of $149.62 billion, a price-to-earnings ratio of 52.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results 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. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker's payout ratio is 45.41%.

About Stryker

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.