Toronto Dominion Bank lifted its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,788 shares of the medical technology company's stock after buying an additional 6,823 shares during the period. Toronto Dominion Bank's holdings in Stryker were worth $65,092,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $25,000. Rakuten Securities Inc. raised its holdings in shares of 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 during the period. Centricity Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $30,000. BankPlus Trust Department bought a new stake in shares of Stryker in the 4th quarter valued at about $33,000. Finally, Activest Wealth Management bought a new stake in shares of Stryker in the 4th quarter valued at about $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.
Stryker Stock Down 1.4%
Shares of SYK traded down $5.39 on Tuesday, hitting $389.30. 1,047,447 shares of the stock traded hands, compared to its average volume of 1,346,784. The company has a market capitalization of $148.59 billion, a PE ratio of 50.17, a P/E/G ratio of 2.93 and a beta of 0.93. 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 business has a 50 day simple moving average of $367.75 and a 200 day simple moving average of $375.89. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.
Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.50 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.
Stryker Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.
Insiders Place Their Bets
In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction 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 sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Citigroup reissued a "buy" rating and issued a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average price target of $427.05.
View Our Latest Report on SYK
Stryker Company Profile
(
Free Report)
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.
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