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

Victory Capital Management Inc. reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,733 shares of the medical technology company's stock after selling 27,057 shares during the quarter. Victory Capital Management Inc.'s holdings in Stryker were worth $46,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Norges Bank acquired a new position in Stryker during the fourth quarter worth about $1,710,744,000. GAMMA Investing LLC grew its position in 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 worth $772,390,000 after buying an additional 2,070,133 shares during the period. FMR LLC grew its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after buying an additional 727,850 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Stryker during the fourth quarter worth about $154,140,000. Finally, Northern Trust Corp grew its position in shares of Stryker by 13.2% in 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 during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SYK. Roth Mkm increased their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday. 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. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, 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. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $428.55.

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.

Stryker Trading Up 1.5%

NYSE:SYK traded up $5.72 during trading hours on Tuesday, reaching $393.04. 452,484 shares of the company were exchanged, compared to its average volume of 1,345,758. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The firm has a market cap of $150.02 billion, a price-to-earnings ratio of 53.12, a PEG ratio of 2.94 and a beta of 0.91. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a 50 day simple moving average of $385.67 and a 200 day simple moving average of $378.19.

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. As a group, analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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 0.85%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 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.