Mackenzie Financial Corp Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Mackenzie Financial Corp boosted its stake in Stryker Co. (NYSE:SYK - Free Report) by 18.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,416,994 shares of the medical technology company's stock after buying an additional 219,451 shares during the quarter. Mackenzie Financial Corp owned approximately 0.37% of Stryker worth $510,189,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter worth approximately $25,000. Rakuten Securities Inc. lifted its holdings in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker during the 4th quarter worth $30,000. BankPlus Trust Department purchased a new stake in shares of Stryker during the fourth quarter worth $33,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 1.9%

Shares of SYK traded up $7.04 during midday trading on Tuesday, hitting $383.66. The company had a trading volume of 1,099,109 shares, compared to its average volume of 1,347,413. The company's 50-day simple moving average is $368.04 and its 200-day simple moving average is $376.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $146.44 billion, a P/E ratio of 49.44, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

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

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. 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 payout ratio is presently 45.41%.

Insider Activity

In other 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 transaction of $75,392,000.00. Following the sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYK. BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Canaccord Genuity Group boosted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Citigroup restated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Argus set a $450.00 price target on shares of Stryker in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus target price 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.