Natixis Advisors L.P. Cuts Stake in Stryker Co. (NYSE:SYK)

Natixis Advisors L.P. lessened its holdings in Stryker Co. (NYSE:SYK) by 19.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,742 shares of the medical technology company’s stock after selling 32,745 shares during the period. Natixis Advisors L.P.’s holdings in Stryker were worth $39,451,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Magellan Asset Management Ltd raised its holdings in Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after acquiring an additional 679,450 shares in the last quarter. Barclays PLC raised its stake in Stryker by 103.5% in the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after buying an additional 551,798 shares in the last quarter. Morgan Stanley lifted its holdings in Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Stryker by 24.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock valued at $304,957,000 after acquiring an additional 217,672 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Stryker by 14.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after acquiring an additional 194,715 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK stock traded up $1.82 on Friday, reaching $328.45. The company had a trading volume of 1,589,424 shares, compared to its average volume of 1,415,127. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71. The company’s fifty day moving average is $347.52 and its 200 day moving average is $316.85. The company has a market cap of $125.12 billion, a P/E ratio of 37.49, a PEG ratio of 2.55 and a beta of 0.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the business posted $2.14 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts forecast that Stryker Co. will post 11.94 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial upped their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. TD Cowen upped their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $365.94.

About Stryker

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.