Financiere des Professionnels Fonds d investissement inc. Lowers Stake in Stryker Corporation (NYSE:SYK)

Financiere des Professionnels Fonds d investissement inc. lessened its holdings in Stryker Corporation (NYSE:SYK) by 8.0% during the first quarter, Holdings Channel.com reports. The firm owned 21,626 shares of the medical technology company’s stock after selling 1,880 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Stryker were worth $8,050,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Capital A Wealth Management LLC bought a new stake in Stryker in the 4th quarter worth $26,000. Rakuten Securities Inc. lifted its position in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares during the period. Goodman Advisory Group LLC purchased a new position in Stryker in the first quarter worth about $32,000. City Holding Co. raised its holdings in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Stryker during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director owned 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. BTIG Research set a $403.00 target price on Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Price Performance

SYK opened at $392.00 on Friday. The company has a market capitalization of $149.62 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 2.98 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The business’s fifty day simple moving average is $382.92 and its 200-day simple moving average is $376.25.

Stryker (NYSE:SYK) last announced its quarterly 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 net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is presently 45.41%.

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.