Stryker Co. (NYSE:SYK) Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co lessened its position in shares of Stryker Co. (NYSE:SYK) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,042 shares of the medical technology company’s stock after selling 213 shares during the quarter. Perkins Coie Trust Co’s holdings in Stryker were worth $4,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in Stryker in the 4th quarter valued at about $26,000. Rakuten Securities Inc. raised its stake in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Stryker in the 4th quarter valued at about $30,000. Finally, BankPlus Trust Department acquired a new position in Stryker in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SYK. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Evercore ISI decreased their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Citigroup reiterated a “buy” rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Trading Up 0.3%

Stryker stock opened at $384.15 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm’s 50-day moving average is $370.10 and its 200-day moving average is $376.03. The company has a market cap of $146.63 billion, a P/E ratio of 49.50, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the company earned $2.50 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is presently 45.41%.

Stryker Profile

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.