Nixon Peabody Trust Co. Sells 13,467 Shares of Stryker Co. (NYSE:SYK)

Nixon Peabody Trust Co. decreased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 23.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 44,000 shares of the medical technology company's stock after selling 13,467 shares during the period. Stryker makes up about 1.4% of Nixon Peabody Trust Co.'s investment portfolio, making the stock its 22nd largest position. Nixon Peabody Trust Co.'s holdings in Stryker were worth $16,379,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYK. Norges Bank purchased a new position in Stryker in the fourth quarter valued at about $1,710,744,000. GAMMA Investing LLC lifted its position in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Stryker during the 4th quarter worth approximately $353,394,000. FMR LLC grew its position in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after buying an additional 595,061 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. 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. Barclays boosted their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Evercore ISI reduced their price objective on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Stryker Stock Performance

Shares of SYK stock traded up $0.19 during trading on Thursday, reaching $382.74. 904,802 shares of the company's stock were exchanged, compared to its average volume of 1,331,786. The firm's fifty day moving average price is $369.68 and its 200-day moving average price is $376.11. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The stock has a market capitalization of $146.09 billion, a PE ratio of 49.32, a PEG ratio of 2.93 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. 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 0.88%. Stryker's payout ratio is presently 45.41%.

Stryker Company 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.