Franklin Resources Inc. Has $1.22 Billion Stock Holdings in Stryker Corporation $SYK

Franklin Resources Inc. decreased its position in Stryker Corporation (NYSE:SYK) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,291,736 shares of the medical technology company’s stock after selling 64,082 shares during the period. Franklin Resources Inc. owned 0.86% of Stryker worth $1,216,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clayton Financial Group LLC acquired a new position in Stryker during the 3rd quarter valued at about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $28,000. Kilter Group LLC acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute bought a new stake in shares of Stryker during the second quarter worth approximately $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Stryker during the third quarter worth approximately $34,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SYK shares. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research note on Friday, December 19th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. UBS Group increased their price target on Stryker from $386.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $437.00 price target on Stryker in a research report on Friday, January 30th. Finally, Evercore set a $390.00 price objective on Stryker in a research note on Monday, January 5th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $428.61.

Stryker Stock Down 1.9%

Shares of NYSE SYK opened at $358.83 on Wednesday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a market cap of $137.32 billion, a P/E ratio of 42.72, a P/E/G ratio of 2.14 and a beta of 0.85. The firm has a 50 day moving average price of $365.82 and a 200 day moving average price of $368.46.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $4.01 earnings per share. Analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.