Stryker Corporation (NYSE:SYK) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Stryker Corporation by 0.4%, now holding approximately 1.26 million shares valued at $468.8 million as of the latest SEC filing.
• Insider Director Ronda E. Stryker sold 200,000 shares at an average price of $376.96, resulting in a transaction worth over $75.39 million and a 5.53% decrease in ownership.
• Stryker recently declared a quarterly dividend of $0.84 per share, with an annualized yield of 0.83%, set to be paid on July 31, effective for investors recorded by June 30.

TD Asset Management Inc reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,259,437 shares of the medical technology company's stock after selling 5,249 shares during the quarter. TD Asset Management Inc owned about 0.33% of Stryker worth $468,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after acquiring an additional 54,693 shares during the last quarter. FMR LLC grew its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Geode Capital Management LLC grew its position in Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after acquiring an additional 168,436 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after purchasing an additional 420,153 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Truist Financial raised their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average price target of $428.55.

Stryker Price Performance

Shares of Stryker stock traded up $1.62 on Wednesday, reaching $402.19. The company's stock had a trading volume of 369,917 shares, compared to its average volume of 1,431,398. The company has a market capitalization of $153.51 billion, a P/E ratio of 54.35, a PEG ratio of 2.97 and a beta of 0.91. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a 50-day moving average price of $386.71 and a 200-day moving average price of $379.82. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. Analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on 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 transaction, the director owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company's stock.

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.