Stryker Corporation (NYSE:SYK) Stock Position Lowered by Greenleaf Trust

Greenleaf Trust reduced its position in Stryker Corporation (NYSE:SYK - Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,116,802 shares of the medical technology company's stock after selling 628,360 shares during the period. Stryker makes up about 58.1% of Greenleaf Trust's investment portfolio, making the stock its biggest position. Greenleaf Trust owned approximately 4.48% of Stryker worth $6,371,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elefante Mark B bought a new stake in Stryker during the fourth quarter worth approximately $337,000. Mogy Joel R Investment Counsel Inc. grew its stake in shares of Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after buying an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Stryker during the first quarter valued at approximately $1,840,000. Finally, Fred Alger Management LLC grew its stake in shares of Stryker by 415.8% during the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock valued at $8,664,000 after buying an additional 19,356 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

SYK stock traded down $5.53 during midday trading on Friday, reaching $389.24. The stock had a trading volume of 825,133 shares, compared to its average volume of 1,350,503. The stock has a market cap of $148.57 billion, a PE ratio of 52.60, a P/E/G ratio of 2.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The firm has a fifty day simple moving average of $384.57 and a two-hundred day simple moving average of $376.97. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the firm earned $2.50 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm'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 directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.90% of the company's stock.

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. Truist Financial increased their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $428.55.

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.