Plimoth Trust Co. LLC Sells 2,143 Shares of Stryker Corporation (NYSE:SYK)

Plimoth Trust Co. LLC lowered its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 20.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,314 shares of the medical technology company's stock after selling 2,143 shares during the quarter. Plimoth Trust Co. LLC's holdings in Stryker were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Norges Bank acquired a new stake in shares of Stryker in the fourth quarter worth $1,710,744,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 2,070,133 shares during the period. Raymond James Financial Inc. acquired a new position in Stryker during the 4th quarter worth $353,394,000. FMR LLC lifted its position in Stryker by 10.0% during the 4th 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 boosted its holdings in 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 acquiring an additional 595,061 shares during the period. Institutional investors own 77.09% of the company's stock.

Stryker Price Performance

Shares of NYSE SYK traded down $0.15 during mid-day trading on Thursday, hitting $373.22. 854,682 shares of the stock were exchanged, compared to its average volume of 1,333,573. The company has a market cap of $142.45 billion, a P/E ratio of 50.43, a PEG ratio of 2.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The stock's fifty day simple moving average is $373.92 and its two-hundred day simple moving average is $375.52.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. As a group, analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal 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 $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $427.30.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $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 available at the SEC website. Company insiders own 5.90% of the company's stock.

About Stryker

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.