Toronto Dominion Bank Boosts Holdings in Stryker Co. (NYSE:SYK)

Toronto Dominion Bank raised its position in Stryker Co. (NYSE:SYK - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 180,788 shares of the medical technology company's stock after acquiring an additional 6,823 shares during the quarter. Toronto Dominion Bank's holdings in Stryker were worth $65,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital & Planning LLC lifted its position in Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock valued at $304,000 after purchasing an additional 29 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after buying an additional 609 shares during the period. RFG Advisory LLC lifted its position in shares of Stryker by 4.4% during the 4th quarter. RFG Advisory LLC now owns 1,316 shares of the medical technology company's stock valued at $474,000 after buying an additional 56 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Stryker by 19.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,263 shares of the medical technology company's stock valued at $2,255,000 after acquiring an additional 1,002 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Stryker by 1.0% in the 4th quarter. Fifth Third Bancorp now owns 89,407 shares of the medical technology company's stock worth $32,191,000 after acquiring an additional 845 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business'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 in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company's stock.

Stryker Trading Up 0.5%

Shares of SYK stock traded up $1.73 during trading hours on Thursday, reaching $382.12. 840,274 shares of the stock were exchanged, compared to its average volume of 1,342,547. The firm has a market capitalization of $145.85 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company's 50-day moving average price is $368.42 and its 200-day moving average price is $376.23. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results 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. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Co. 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 is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker's dividend payout ratio (DPR) is 45.41%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Citigroup reaffirmed a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI cut their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price objective on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.