Mackenzie Financial Corp Has $106.95 Million Position in Stryker Co. (NYSE:SYK)

Mackenzie Financial Corp reduced its stake in shares of Stryker Co. (NYSE:SYK) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 357,146 shares of the medical technology company’s stock after selling 3,681 shares during the period. Mackenzie Financial Corp’s holdings in Stryker were worth $106,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bison Wealth LLC grew its holdings in shares of Stryker by 3.6% during the 4th quarter. Bison Wealth LLC now owns 7,206 shares of the medical technology company’s stock valued at $2,158,000 after acquiring an additional 249 shares in the last quarter. Ballast Advisors LLC grew its holdings in shares of Stryker by 44.4% during the 4th quarter. Ballast Advisors LLC now owns 2,673 shares of the medical technology company’s stock valued at $800,000 after acquiring an additional 822 shares in the last quarter. Dakota Wealth Management grew its holdings in shares of Stryker by 19.7% during the 4th quarter. Dakota Wealth Management now owns 16,321 shares of the medical technology company’s stock valued at $4,891,000 after acquiring an additional 2,683 shares in the last quarter. Cullen Investment Group LTD. purchased a new position in shares of Stryker during the 4th quarter valued at $3,946,000. Finally, Strs Ohio grew its holdings in shares of Stryker by 1.5% during the 4th quarter. Strs Ohio now owns 198,534 shares of the medical technology company’s stock valued at $59,452,000 after acquiring an additional 2,962 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Down 0.9 %

Shares of SYK opened at $339.13 on Tuesday. The company has a 50-day simple moving average of $350.75 and a 200-day simple moving average of $311.41. The firm has a market capitalization of $129.03 billion, a P/E ratio of 41.11, a P/E/G ratio of 2.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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 business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.00 earnings per share. On average, equities research analysts expect that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SYK shares. Royal Bank of Canada boosted their price target on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Truist Financial upped their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. TD Cowen upped their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Citigroup upped their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.22.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were 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 owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

Stryker Company 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.