Greenleaf Trust Decreases Position in Stryker Co. (NYSE:SYK)

Greenleaf Trust decreased its position in shares of Stryker Co. (NYSE:SYK) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,488,307 shares of the medical technology company’s stock after selling 840,331 shares during the quarter. Stryker makes up approximately 59.4% of Greenleaf Trust’s portfolio, making the stock its biggest position. Greenleaf Trust’s holdings in Stryker were worth $5,536,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keybank National Association OH lifted its stake in shares of Stryker by 3.5% in the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after purchasing an additional 952 shares during the period. Carnegie Capital Asset Management LLC lifted its stake in shares of Stryker by 0.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after purchasing an additional 191 shares during the period. DNB Asset Management AS lifted its stake in shares of Stryker by 5.7% in the 4th quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after purchasing an additional 4,143 shares during the period. Finally, LGT Capital Partners LTD. increased its position in Stryker by 24.4% in the 4th quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock valued at $130,264,000 after buying an additional 85,240 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the 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 transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’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 of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK traded down $2.02 on Friday, reaching $325.43. 1,784,380 shares of the company’s stock traded hands, compared to its average volume of 1,271,581. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market cap of $123.82 billion, a PE ratio of 39.54, a PEG ratio of 2.71 and a beta of 0.89. The stock’s 50 day simple moving average is $350.34 and its two-hundred day simple moving average is $312.14. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. On average, analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SYK shares. Royal Bank of Canada boosted their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Roth Mkm boosted their target price on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Evercore ISI boosted their target price on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, TD Cowen boosted their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $340.45.

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.