Franklin Resources Inc. Has $1.22 Billion Position in Stryker Corporation $SYK

Franklin Resources Inc. lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 1.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,291,736 shares of the medical technology company’s stock after selling 64,082 shares during the period. Franklin Resources Inc.’s holdings in Stryker were worth $1,216,856,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Brighton Jones LLC lifted its stake in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Stryker in the second quarter valued at approximately $205,000. AE Wealth Management LLC increased its position in shares of Stryker by 31.1% during the second quarter. AE Wealth Management LLC now owns 3,037 shares of the medical technology company’s stock worth $1,202,000 after acquiring an additional 720 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Stryker by 2.2% during the second quarter. Profund Advisors LLC now owns 4,917 shares of the medical technology company’s stock worth $1,945,000 after acquiring an additional 105 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Stryker by 6.9% during the second quarter. ProShare Advisors LLC now owns 61,710 shares of the medical technology company’s stock worth $24,414,000 after acquiring an additional 3,997 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 1.9%

Shares of SYK stock opened at $358.83 on Wednesday. The firm’s fifty day moving average price is $365.82 and its two-hundred day moving average price is $368.46. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The firm has a market capitalization of $137.32 billion, a P/E ratio of 42.72, a PEG ratio of 2.14 and a beta of 0.85.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the business earned $4.01 earnings per share. Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio is currently 41.90%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research analyst reports. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a research note on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. The Goldman Sachs Group set a $399.00 price target on Stryker in a report on Friday, January 9th. Truist Financial reduced their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $428.61.

About Stryker

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.