Janus Henderson Group PLC lowered its position in Stryker Corporation (NYSE:SYK – Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,958,916 shares of the medical technology company’s stock after selling 116,420 shares during the quarter. Janus Henderson Group PLC owned about 0.51% of Stryker worth $643,677,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Godfrey Financial Associates Inc. acquired a new position in Stryker in the 4th quarter valued at about $26,000. Sankala Group LLC acquired a new stake in shares of Stryker during the 4th quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $27,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $27,000. Finally, DJE Kapital AG purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $28,000. 77.09% of the stock is owned by hedge funds and other institutional investors.
Stryker Stock Up 1.7%
Shares of NYSE SYK opened at $352.35 on Thursday. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $316.38 and its two-hundred day moving average is $335.11. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $403.22. The firm has a market cap of $135.08 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 2.22 and a beta of 0.77.
Stryker Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Stryker’s dividend payout ratio (DPR) is 40.74%.
Insider Buying and Selling at Stryker
In other news, VP Robert S. Fletcher sold 4,544 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares of the company’s stock, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 5,220 shares of Stryker stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the completion of the transaction, the vice president owned 13,137 shares of the company’s stock, valued at $3,728,937.45. This trade represents a 28.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 323,264 shares of company stock valued at $100,659,489 in the last three months. 4.60% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on SYK shares. Citigroup lowered their price objective on Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Truist Financial restated a “hold” rating and issued a $330.00 target price (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Argus set a $370.00 price target on Stryker in a research note on Thursday, July 9th. Leerink Partners lowered their price target on Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Finally, Barclays reduced their price objective on shares of Stryker from $469.00 to $394.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $393.39.
Read Our Latest Report on Stryker
Stryker Company Profile
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
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