Ninety One UK Ltd Has $25.31 Million Holdings in Stryker Corporation (NYSE:SYK)

Ninety One UK Ltd decreased its position in Stryker Corporation (NYSE:SYK - Free Report) by 9.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,983 shares of the medical technology company's stock after selling 6,764 shares during the period. Ninety One UK Ltd's holdings in Stryker were worth $25,307,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SYK. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the 4th quarter valued at $26,000. Rakuten Securities Inc. lifted its holdings in shares of Stryker by 618.2% during the 4th 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 last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the 1st quarter valued at $32,000. City Holding Co. raised its stake in Stryker by 528.6% in 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 last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in Stryker in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Citigroup reissued a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial lifted their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $428.55.

Stryker Stock Performance

SYK traded up $2.55 on Wednesday, reaching $392.05. The company had a trading volume of 871,885 shares, compared to its average volume of 1,348,615. The stock has a 50-day moving average price of $383.81 and a 200-day moving average price of $376.67. Stryker Corporation has a 1 year low of $314.93 and a 1 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 stock has a market capitalization of $149.64 billion, a PE ratio of 52.98, a P/E/G ratio of 2.96 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly 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. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the prior year, the company posted $2.50 earnings per share. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

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.