Dorsey & Whitney Trust CO LLC reduced its holdings in shares of Stryker Corporation (NYSE:SYK – Free Report) by 16.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,663 shares of the medical technology company’s stock after selling 891 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Stryker were worth $1,736,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after buying an additional 2,070,133 shares during the last quarter. Nuveen LLC acquired a new stake in Stryker during the 1st quarter worth approximately $558,075,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Stryker in the 4th quarter valued at approximately $154,140,000. Northern Trust Corp grew its stake in shares of Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock valued at $1,298,426,000 after purchasing an additional 420,153 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.
Stryker Trading Up 0.5%
Shares of SYK opened at $392.0050 on Thursday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $149.87 billion, a P/E ratio of 51.92, a PEG ratio of 2.83 and a beta of 0.91. The firm’s 50-day moving average is $387.09 and its two-hundred day moving average is $379.54.
Stryker Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 44.50%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Truist Financial set a $415.00 price target on Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Citigroup reaffirmed a “buy” rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI boosted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Finally, BTIG Research reiterated a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $430.10.
Get Our Latest Report on Stryker
Insider Buying and Selling at Stryker
In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.
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.
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