Mackenzie Financial Corp Buys 219,451 Shares of Stryker Co. (NYSE:SYK)

Mackenzie Financial Corp raised its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,416,994 shares of the medical technology company's stock after acquiring an additional 219,451 shares during the quarter. Mackenzie Financial Corp owned approximately 0.37% of Stryker worth $510,189,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker in the fourth quarter worth about $25,000. Rakuten Securities Inc. raised its stake in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Stryker in the fourth quarter worth approximately $30,000. BankPlus Trust Department purchased a new position in Stryker in the fourth quarter worth $33,000. Finally, Activest Wealth Management purchased a new position in Stryker in the fourth quarter worth $36,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYK. Citigroup reissued a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Stifel Nicolaus upped their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Barclays increased their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Finally, BTIG Research set a $403.00 price target on shares of Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Performance

NYSE SYK traded up $0.44 on Thursday, hitting $380.83. 347,146 shares of the stock were exchanged, compared to its average volume of 1,539,056. The company has a market capitalization of $145.36 billion, a PE ratio of 49.08, a P/E/G ratio of 2.93 and a beta of 0.93. The business's fifty day moving average is $368.42 and its 200 day moving average is $376.23. Stryker Co. 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 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

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

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is currently 45.41%.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is owned by corporate insiders.

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.