Trust Point Inc. Sells 894 Shares of Stryker Corporation (NYSE:SYK)

Trust Point Inc. cut its position in Stryker Corporation (NYSE:SYK - Free Report) by 47.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 991 shares of the medical technology company's stock after selling 894 shares during the quarter. Trust Point Inc.'s holdings in Stryker were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter worth approximately $26,000. Rakuten Securities Inc. raised its position 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 in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker during the 4th quarter worth $33,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 now directly owns 3,417,326 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is owned by company insiders.

Stryker Trading Down 1.0%

Shares of SYK stock opened at $373.36 on Wednesday. The stock has a 50-day moving average of $373.73 and a 200-day moving average of $375.54. 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 stock has a market cap of $142.51 billion, a price-to-earnings ratio of 50.45, a PEG ratio of 2.84 and a beta of 0.91. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly 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. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the business earned $2.50 EPS. The company's revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

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.

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