Villere ST Denis J & Co. LLC Reduces Position in Stryker Corporation (NYSE:SYK)

Villere ST Denis J & Co. LLC trimmed its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,418 shares of the medical technology company's stock after selling 1,395 shares during the period. Stryker accounts for about 3.1% of Villere ST Denis J & Co. LLC's holdings, making the stock its 9th biggest holding. Villere ST Denis J & Co. LLC's holdings in Stryker were worth $31,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC increased its position in shares of Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after acquiring an additional 27 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after acquiring an additional 28 shares during the last quarter. Continuum Advisory LLC increased its position in shares of Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after acquiring an additional 29 shares during the last quarter. Oakworth Capital Inc. increased its position in shares of Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after acquiring an additional 29 shares during the last quarter. Finally, United Community Bank increased its position in shares of Stryker by 3.4% during the fourth quarter. United Community Bank now owns 904 shares of the medical technology company's stock worth $325,000 after acquiring an additional 30 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

SYK stock traded up $3.30 during midday trading on Friday, reaching $393.70. The company had a trading volume of 2,216,556 shares, compared to its average volume of 1,346,944. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $379.01 and a 200 day moving average price of $375.45. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a market capitalization of $150.27 billion, a PE ratio of 53.20, a P/E/G ratio of 2.94 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 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. Analysts anticipate 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 dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker's dividend payout ratio is presently 45.41%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SYK shares. Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday. Truist Financial lifted their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, Evercore ISI decreased their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 completion of the transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.90% of the company's stock.

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.