Bessemer Group Inc. Decreases Stock Holdings in Stryker Corporation (NYSE:SYK)

Bessemer Group Inc. lowered its stake in Stryker Corporation (NYSE:SYK - Free Report) by 43.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,363 shares of the medical technology company's stock after selling 8,567 shares during the quarter. Bessemer Group Inc.'s holdings in Stryker were worth $4,230,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Elefante Mark B bought a new stake in shares of Stryker in the 4th quarter valued at $337,000. Mogy Joel R Investment Counsel Inc. increased its stake in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after acquiring an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its position in Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Stryker in the 1st quarter valued at $1,840,000. Finally, Metis Global Partners LLC grew its position in Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after purchasing an additional 1,561 shares during the period. Institutional investors own 77.09% of the company's stock.

Stryker Price Performance

Shares of NYSE SYK traded up $3.30 during midday trading on Friday, hitting $393.70. 2,216,556 shares of the company's stock were exchanged, compared to its average volume of 1,346,944. The company has a market cap of $150.27 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 2.94 and a beta of 0.91. The business's fifty day moving average price is $379.01 and its two-hundred day moving average price is $375.45. 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 12-month low of $314.93 and a 12-month high of $406.19.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director now directly owns 3,417,326 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SYK shares. Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday. Citigroup reiterated a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Truist Financial boosted their price objective on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Finally, Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $427.30.

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.