TD Asset Management Inc lessened its position in shares of Stryker Corporation (NYSE:SYK – Free Report) by 8.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,147,853 shares of the medical technology company’s stock after selling 111,584 shares during the quarter. TD Asset Management Inc’s holdings in Stryker were worth $454,125,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after buying an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after purchasing an additional 1,021,496 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after purchasing an additional 261,058 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Stryker by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock worth $776,871,000 after purchasing an additional 83,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company’s stock worth $750,223,000 after purchasing an additional 30,329 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.
Stryker Stock Up 0.1%
SYK opened at $364.95 on Tuesday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The stock has a market cap of $139.52 billion, a P/E ratio of 48.34, a P/E/G ratio of 2.63 and a beta of 0.94. The stock’s 50 day moving average price is $379.93 and its 200 day moving average price is $378.91.
Stryker Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 44.50%.
Analysts Set New Price Targets
Several analysts recently issued reports on SYK shares. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Rothschild & Co Redburn started coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target on the stock. Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Finally, UBS Group set a $408.00 price target on Stryker in a report on Monday. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $432.14.
Read Our Latest Analysis on Stryker
Insider Buying and Selling at Stryker
In other news, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.
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.
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