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

Greenleaf Trust cut its holdings in shares of Stryker Co. (NYSE:SYK) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,525,225 shares of the medical technology company’s stock after selling 28,221 shares during the quarter. Stryker accounts for 59.5% of Greenleaf Trust’s holdings, making the stock its largest position. Greenleaf Trust owned 4.86% of Stryker worth $6,692,423,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Proficio Capital Partners LLC lifted its holdings in shares of Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 33 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 33 shares in the last quarter. Stanley Laman Group Ltd. increased its stake in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares during the last quarter. Plimoth Trust Co. LLC raised its holdings in shares of Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in shares of Stryker by 1.4% during the 1st quarter. Manchester Capital Management LLC now owns 2,474 shares of the medical technology company’s stock worth $885,000 after buying an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial boosted their target price on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Needham & Company LLC upped their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Price Performance

Stryker stock opened at $364.82 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $138.98 billion, a P/E ratio of 41.80, a P/E/G ratio of 2.85 and a beta of 0.91. The company’s 50 day moving average price is $357.37 and its two-hundred day moving average price is $343.45. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the business posted $2.54 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. Stryker’s payout ratio is presently 36.53%.

Insider Activity

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last 90 days. Insiders own 5.90% of the company’s stock.

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.