Nisa Investment Advisors LLC Sells 22,171 Shares of Stryker Corporation (NYSE:SYK)

Nisa Investment Advisors LLC cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,425 shares of the medical technology company's stock after selling 22,171 shares during the quarter. Nisa Investment Advisors LLC's holdings in Stryker were worth $38,214,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Van Cleef Asset Management Inc increased its position in shares of Stryker by 0.6% during the 1st quarter. Van Cleef Asset Management Inc now owns 46,998 shares of the medical technology company's stock valued at $17,495,000 after purchasing an additional 260 shares during the last quarter. Banque Pictet & Cie SA lifted its stake in shares of Stryker by 646.9% in the 1st quarter. Banque Pictet & Cie SA now owns 180,266 shares of the medical technology company's stock valued at $67,104,000 after purchasing an additional 156,132 shares during the period. LBP AM SA lifted its stake in shares of Stryker by 11.0% in the 1st quarter. LBP AM SA now owns 228,469 shares of the medical technology company's stock valued at $85,048,000 after purchasing an additional 22,659 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of Stryker by 3.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 5,223 shares of the medical technology company's stock valued at $1,944,000 after purchasing an additional 196 shares during the period. Finally, Cornerstone Planning Group LLC raised its stake in Stryker by 46.0% during the first quarter. Cornerstone Planning Group LLC now owns 127 shares of the medical technology company's stock valued at $45,000 after buying an additional 40 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 0.1%

SYK stock traded up $0.30 during midday trading on Wednesday, reaching $389.80. 31,214 shares of the company traded hands, compared to its average volume of 1,345,363. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The business has a 50 day moving average of $383.81 and a 200-day moving average of $376.67. The firm has a market capitalization of $148.78 billion, a price-to-earnings ratio of 52.68, a P/E/G ratio of 2.96 and a beta of 0.91.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. 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 currently 45.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SYK shares. Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday. Roth Mkm lifted 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. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Truist Financial lifted their target price on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average price target of $428.55.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 5.90% 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.

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