Trillium Asset Management LLC Buys 13,921 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Trillium Asset Management LLC has increased its stake in Stryker Corporation by 16.5%, acquiring an additional 13,921 shares, bringing its total holdings to 98,146 shares valued at approximately $36.5 million.
• Institutional investors collectively own 77.09% of Stryker's stock, with notable increases from organizations such as GAMMA Investing LLC and Vanguard Group Inc. in the 1st quarter.
• Stryker announced a quarterly dividend of $0.84 per share, which is set to be paid on October 31, reflecting an annualized dividend yield of 0.9% at a payout ratio of 44.50%.

Trillium Asset Management LLC raised its stake in Stryker Corporation (NYSE:SYK - Free Report) by 16.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 98,146 shares of the medical technology company's stock after buying an additional 13,921 shares during the quarter. Trillium Asset Management LLC's holdings in Stryker were worth $36,534,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 purchasing an additional 54,693 shares in the last quarter. Northern Trust Corp raised its stake in shares of Stryker by 13.2% during the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after purchasing an additional 420,153 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after purchasing an additional 261,058 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Evercore ISI lifted their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $430.10.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Down 0.1%

SYK traded down $0.41 during trading on Thursday, reaching $378.54. The company had a trading volume of 1,622,546 shares, compared to its average volume of 1,441,777. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm's 50-day simple moving average is $386.91 and its 200 day simple moving average is $379.83. The company has a market cap of $144.72 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the business posted $2.81 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is 44.50%.

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.