Stryker Corporation (NYSE:SYK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 17.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 123,733 shares of the medical technology company's stock after selling 27,057 shares during the period. Victory Capital Management Inc.'s holdings in Stryker were worth $46,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bridgewater Advisors Inc. purchased a new position in Stryker during the first quarter worth about $682,000. Kornitzer Capital Management Inc. KS raised its holdings in Stryker by 4.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 7,489 shares of the medical technology company's stock worth $2,788,000 after purchasing an additional 337 shares in the last quarter. Larson Financial Group LLC raised its holdings in Stryker by 25.6% during the first quarter. Larson Financial Group LLC now owns 12,934 shares of the medical technology company's stock worth $4,815,000 after purchasing an additional 2,640 shares in the last quarter. Sage Mountain Advisors LLC raised its holdings in Stryker by 3.1% during the first quarter. Sage Mountain Advisors LLC now owns 1,740 shares of the medical technology company's stock worth $648,000 after purchasing an additional 52 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its holdings in Stryker by 6.5% during the first quarter. Wealthfront Advisers LLC now owns 36,700 shares of the medical technology company's stock worth $13,662,000 after purchasing an additional 2,236 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 transaction, the director owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SYK. Roth Mkm increased their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday, May 5th. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. 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 research report on Monday, May 5th. Finally, Evercore ISI increased their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Trading Up 1.4%

NYSE SYK traded up $5.63 during mid-day trading on Wednesday, reaching $400.78. 1,464,326 shares of the stock were exchanged, compared to its average volume of 1,349,652. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The business's fifty day simple moving average is $386.10 and its 200 day simple moving average is $378.65. The stock has a market capitalization of $152.97 billion, a PE ratio of 54.16, a PEG ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share 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 the consensus estimate of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. Stryker's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

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.