Truist Financial Corp Decreases Holdings in Stryker Corporation (NYSE:SYK)

Truist Financial Corp decreased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,339 shares of the medical technology company's stock after selling 9,769 shares during the quarter. Truist Financial Corp's holdings in Stryker were worth $38,840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. increased its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares during the period. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the first quarter valued at approximately $32,000. City Holding Co. increased its stake in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYK. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Roth Mkm upped their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, Citigroup reiterated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of "Moderate Buy" and an average target price of $427.30.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director directly owned 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.20% of the company's stock.

Stryker Stock Down 0.8%

Shares of SYK traded down $3.02 during trading hours on Monday, reaching $392.26. The stock had a trading volume of 1,310,299 shares, compared to its average volume of 1,348,084. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a 50-day simple moving average of $382.92 and a 200 day simple moving average of $376.39. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $149.72 billion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 2.98 and a beta of 0.91.

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 analysts' consensus estimates 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 return on equity of 23.74% and a net margin of 12.31%. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $2.50 EPS. Equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

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.