Stryker Corporation $SYK Shares Sold by Greenleaf Trust

Greenleaf Trust reduced its position in Stryker Corporation (NYSE:SYK) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,564,209 shares of the medical technology company’s stock after selling 79,279 shares during the period. Stryker comprises 53.4% of Greenleaf Trust’s holdings, making the stock its largest position. Greenleaf Trust owned about 4.33% of Stryker worth $5,821,823,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SYK. Vanguard Group Inc. lifted its position in Stryker by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after acquiring an additional 272,828 shares during the last quarter. State Street Corp lifted its position in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after acquiring an additional 150,204 shares during the last quarter. Alliancebernstein L.P. lifted its position in Stryker by 13.3% during the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after acquiring an additional 741,542 shares during the last quarter. Legal & General Group Plc lifted its position in Stryker by 4.4% during the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock worth $851,457,000 after acquiring an additional 96,662 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein raised their price objective on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Robert W. Baird set a $437.00 price objective on shares of Stryker in a research report on Friday, January 30th. Barclays restated an “overweight” rating and set a $469.00 price objective on shares of Stryker in a research report on Monday, February 2nd. Finally, Truist Financial cut their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $425.56.

Stryker Stock Down 0.2%

Shares of SYK opened at $331.64 on Wednesday. Stryker Corporation has a 12 month low of $319.32 and a 12 month high of $404.87. The firm’s 50 day moving average is $356.14 and its 200-day moving average is $361.12. The stock has a market capitalization of $127.01 billion, a PE ratio of 39.48, a P/E/G ratio of 1.94 and a beta of 0.92. 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 (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period last year, the firm earned $4.01 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

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.