Quilter Plc Sells 11,574 Shares of Stryker Corporation (NYSE:SYK)

Quilter Plc cut its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,102 shares of the medical technology company's stock after selling 11,574 shares during the period. Quilter Plc's holdings in Stryker were worth $37,263,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mascoma Wealth Management LLC lifted its holdings in shares of Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after buying an additional 27 shares during the period. Lindbrook Capital LLC increased 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 acquiring an additional 28 shares during the last quarter. Continuum Advisory LLC lifted its holdings 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 acquiring an additional 29 shares during the period. United Community Bank boosted its position in Stryker by 3.4% in the fourth quarter. United Community Bank now owns 904 shares of the medical technology company's stock worth $325,000 after purchasing an additional 30 shares during the last quarter. Finally, Ironwood Investment Counsel LLC grew its stake in shares of Stryker by 0.9% during the 4th quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock valued at $1,196,000 after purchasing an additional 30 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Citigroup reaffirmed a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average price target of $427.30.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Stryker stock opened at $390.67 on Friday. 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 stock has a market cap of $149.11 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91. The firm has a 50-day moving average of $378.06 and a two-hundred day moving average of $375.38. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19.

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

Stryker Announces Dividend

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 paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is currently 45.41%.

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.

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