WASHINGTON TRUST Co Sells 8,634 Shares of Stryker Corporation (NYSE:SYK)

WASHINGTON TRUST Co trimmed its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,584 shares of the medical technology company's stock after selling 8,634 shares during the quarter. WASHINGTON TRUST Co's holdings in Stryker were worth $19,575,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Elefante Mark B bought a new stake in shares of Stryker during the 4th quarter worth $337,000. Mogy Joel R Investment Counsel Inc. lifted its position in Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after acquiring an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after acquiring an additional 3,341 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker in the first quarter valued at about $1,840,000. Finally, Fred Alger Management LLC increased its stake in shares of Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after purchasing an additional 19,356 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 trade 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 hyperlink. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

NYSE:SYK traded up $2.16 on Monday, reaching $395.71. The stock had a trading volume of 1,151,593 shares, compared to its average volume of 1,343,972. 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 company has a market capitalization of $151.04 billion, a P/E ratio of 53.47, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The stock has a fifty day moving average price of $379.01 and a 200-day moving average price of $375.45.

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 for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion during 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%. The business's revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.50 EPS. Research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.85%. Stryker's payout ratio is 45.41%.

Analyst Ratings Changes

Several brokerages recently weighed in on SYK. Needham & Company LLC restated a "buy" rating and set a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. Evercore ISI reduced their price objective on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Truist Financial upped their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.