The Manufacturers Life Insurance Company Lowers Stake in Stryker Co. (NYSE:SYK)

The Manufacturers Life Insurance Company decreased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,178,398 shares of the medical technology company's stock after selling 78,693 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.31% of Stryker worth $424,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in SYK. Vanguard Group Inc. grew its holdings in Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after acquiring an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Stryker by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after purchasing an additional 54,693 shares in the last quarter. FMR LLC increased its position in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares during the period. Geode Capital Management LLC boosted its position in Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after acquiring an additional 168,436 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Stryker during the fourth quarter valued at approximately $1,710,744,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Up 1.2 %

NYSE SYK traded up $4.61 during trading hours on Friday, reaching $378.60. The company had a trading volume of 3,709,095 shares, compared to its average volume of 1,358,782. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The stock has a market capitalization of $144.51 billion, a P/E ratio of 48.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The stock has a 50-day moving average of $366.62 and a 200 day moving average of $373.60. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. As a group, research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker's dividend payout ratio (DPR) is 43.30%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYK. JPMorgan Chase & Co. increased their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Canaccord Genuity Group boosted their price target on Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Roth Mkm upped their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday. Argus set a $450.00 target price on shares of Stryker in a research report on Monday, February 3rd. Finally, Barclays upped their price target on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $426.53.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by corporate insiders.

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.