Ninety One UK Ltd decreased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 9.0% in the first quarter, according to the company in its most recent 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 quarter. Ninety One UK Ltd's holdings in Stryker were worth $25,307,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the 4th quarter worth $26,000. Rakuten Securities Inc. increased its holdings in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares during the period. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the 1st quarter worth $32,000. City Holding Co. lifted its stake in shares of 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 purchasing an additional 74 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Stryker during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on SYK shares. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $428.55.
View Our Latest Report on SYK
Stryker Trading Down 1.4%
Shares of SYK stock traded down $5.53 on Friday, hitting $389.24. The stock had a trading volume of 821,968 shares, compared to its average volume of 1,350,503. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The firm has a market capitalization of $148.57 billion, a P/E ratio of 52.60, a P/E/G ratio of 2.96 and a beta of 0.91. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company's 50 day moving average price is $384.57 and its 200-day moving average price is $376.97.
Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. Analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.
Stryker Announces Dividend
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 dividend of $0.84 per share. 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 45.41%.
Insiders Place Their Bets
In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is currently owned by company insiders.
About Stryker
(
Free Report)
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.
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