Syon Capital LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK – Free Report) by 25.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,771 shares of the medical technology company’s stock after selling 1,978 shares during the period. Syon Capital LLC’s holdings in Stryker were worth $1,817,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in Stryker by 2.1% during the fourth quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock worth $5,374,731,000 after buying an additional 311,507 shares during the period. Wellington Management Group LLP lifted its position in shares of Stryker by 0.6% during the 2nd quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after acquiring an additional 45,478 shares during the period. Geode Capital Management LLC boosted its stake in shares of Stryker by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock worth $2,636,238,000 after acquiring an additional 69,851 shares in the last quarter. Norges Bank acquired a new stake in shares of Stryker in the 4th quarter worth approximately $1,822,272,000. Finally, Bank of America Corp DE acquired a new stake in shares of Stryker in the 2nd quarter worth approximately $1,404,284,000. 77.09% of the stock is owned by institutional investors and hedge funds.
Stryker Stock Performance
Shares of NYSE SYK opened at $302.92 on Friday. The company has a 50-day simple moving average of $328.84 and a 200-day simple moving average of $329.73. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The company has a market cap of $116.19 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.93 and a beta of 0.76. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $396.37.
Stryker Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 annualized dividend and a yield of 1.2%. Stryker’s payout ratio is 36.48%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SYK. UBS Group assumed coverage on Stryker in a report on Tuesday, July 28th. They set a “buy” rating and a $400.00 price objective for the company. Piper Sandler dropped their price target on Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Evercore set a $350.00 price target on Stryker in a research note on Monday, July 6th. BTIG Research decreased their price objective on shares of Stryker from $371.00 to $358.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Finally, BMO Capital Markets assumed coverage on shares of Stryker in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $369.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $386.28.
View Our Latest Research Report on SYK
Insiders Place Their Bets
In other news, Director Ronda Stryker sold 300,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the sale, the director owned 2,301,375 shares in the company, valued at $773,031,862.50. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the sale, the insider owned 6,102 shares in the company, valued at $2,005,178.22. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 351,267 shares of company stock valued at $118,197,701 in the last quarter. 4.60% of the stock is currently owned by company insiders.
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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