Principal Financial Group Inc. Sells 785 Shares of Stryker Corporation (NYSE:SYK)

Principal Financial Group Inc. cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 421,183 shares of the medical technology company's stock after selling 785 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Stryker worth $156,785,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYK. Mascoma Wealth Management LLC lifted its holdings in shares of Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after purchasing an additional 27 shares in the last quarter. Lindbrook Capital LLC boosted its position in Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after purchasing an additional 28 shares during the last quarter. Continuum Advisory LLC grew its stake in Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares in the last quarter. Oakworth Capital Inc. increased its position in Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares during the last quarter. Finally, United Community Bank raised its stake in shares of Stryker by 3.4% during the 4th quarter. United Community Bank now owns 904 shares of the medical technology company's stock worth $325,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm'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 transaction, the director owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

SYK stock traded up $0.19 during trading on Friday, reaching $392.00. 536,295 shares of the stock were exchanged, compared to its average volume of 1,346,875. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $149.62 billion, a P/E ratio of 52.97, a price-to-earnings-growth ratio of 2.95 and a beta of 0.91. The stock has a 50 day simple moving average of $382.39 and a 200-day simple moving average of $375.99.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 0.86%. Stryker's dividend payout ratio (DPR) is currently 45.41%.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. BTIG Research set a $403.00 target price on shares of Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $427.30.

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.