Man Group plc Sells 25,058 Shares of Stryker Co. (NYSE:SYK)

Man Group plc cut its position in Stryker Co. (NYSE:SYK - Free Report) by 75.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,996 shares of the medical technology company's stock after selling 25,058 shares during the quarter. Man Group plc's holdings in Stryker were worth $2,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker in the fourth quarter valued at about $25,000. Rakuten Securities Inc. grew its position in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter worth $30,000. BankPlus Trust Department acquired a new position in shares of Stryker in the 4th quarter valued at approximately $33,000. Finally, Activest Wealth Management bought a new stake in Stryker during the fourth quarter worth $36,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK stock traded down $1.47 during mid-day trading on Wednesday, hitting $382.31. 158,594 shares of the stock were exchanged, compared to its average volume of 1,541,166. The business has a fifty day moving average price of $368.24 and a 200 day moving average price of $376.20. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a market capitalization of $145.92 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $2.50 EPS. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared 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 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. Evercore ISI cut their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Roth Mkm upped their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company boosted their target price on shares of Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Insider Buying and Selling 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 completion of the sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.20% of the company's stock.

Stryker Profile

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.