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

Man Group plc lessened its holdings in Stryker Co. (NYSE:SYK - Free Report) by 75.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Nia Impact Advisors LLC increased its position in shares of Stryker by 0.5% in the fourth quarter. Nia Impact Advisors LLC now owns 9,523 shares of the medical technology company's stock valued at $3,429,000 after acquiring an additional 43 shares during the period. Nomura Holdings Inc. increased its position in shares of Stryker by 220.2% in the fourth quarter. Nomura Holdings Inc. now owns 15,925 shares of the medical technology company's stock valued at $5,734,000 after acquiring an additional 10,951 shares during the period. Nearwater Capital Markets Ltd purchased a new position in shares of Stryker in the fourth quarter valued at about $36,304,000. NorthRock Partners LLC increased its position in shares of Stryker by 375.4% in the fourth quarter. NorthRock Partners LLC now owns 15,578 shares of the medical technology company's stock valued at $5,609,000 after acquiring an additional 12,301 shares during the period. Finally, Obermeyer Wealth Partners purchased a new position in shares of Stryker in the fourth quarter valued at about $957,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Stryker stock traded up $8.03 during midday trading on Tuesday, reaching $384.65. 515,147 shares of the company traded hands, compared to its average volume of 1,345,197. The firm has a market capitalization of $146.82 billion, a price-to-earnings ratio of 49.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The business has a 50 day moving average of $368.04 and a two-hundred day moving average of $376.15. 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.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.50 earnings per share. As a group, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker's dividend payout ratio (DPR) is 45.41%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Argus set a $450.00 price target on shares of Stryker in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

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.