Greenleaf Trust Lowers Stake in Stryker Corporation (NYSE:SYK)

Greenleaf Trust lowered its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,116,802 shares of the medical technology company's stock after selling 628,360 shares during the period. Stryker comprises about 58.1% of Greenleaf Trust's investment portfolio, making the stock its biggest holding. Greenleaf Trust owned approximately 4.48% of Stryker worth $6,371,730,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in Stryker in the 4th quarter worth $26,000. Rakuten Securities Inc. grew 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 worth $28,000 after acquiring an additional 68 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Stryker in the 1st quarter worth $32,000. City Holding Co. raised its holdings in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in Stryker in the 4th quarter worth $36,000. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

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 transaction of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

Shares of NYSE:SYK traded up $2.55 during midday trading on Wednesday, reaching $392.05. 871,885 shares of the company's stock traded hands, compared to its average volume of 1,348,615. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The company has a market cap of $149.64 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 2.96 and a beta of 0.91. The stock has a 50 day moving average of $383.81 and a 200 day moving average of $376.67.

Stryker (NYSE:SYK - Get Free Report) last posted 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 net margin of 12.31% and a return on equity of 23.74%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The business'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 fiscal 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 issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker's payout ratio is 45.41%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SYK shares. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Finally, Roth Mkm upped their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

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.