Bank of New York Mellon Corp Sells 202,474 Shares of Stryker Corporation (NYSE:SYK)

Bank of New York Mellon Corp lowered its stake in Stryker Corporation (NYSE:SYK - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 approximately 1.35% of Stryker worth $1,918,240,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. increased its holdings in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares during the period. Goodman Advisory Group LLC acquired a new stake in Stryker during the 1st quarter worth about $32,000. City Holding Co. grew its holdings in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC bought a new position in shares of Stryker during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

SYK has been the topic of several recent analyst reports. Roth Mkm lifted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Truist Financial raised their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Needham & Company LLC restated a "buy" rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Citigroup restated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Price Performance

Shares of SYK traded up $0.19 during mid-day trading on Friday, reaching $392.00. 536,295 shares of the stock traded hands, compared to its average volume of 1,348,236. The firm has a fifty day moving average price of $382.92 and a 200 day moving average price of $376.39. The company 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. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.50 EPS. As a group, equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 yield of 0.86%. Stryker's dividend payout ratio (DPR) is presently 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.