Greenleaf Trust Sells 780,063 Shares of Stryker Co. (NYSE:SYK)

Greenleaf Trust cut its holdings in shares of Stryker Co. (NYSE:SYK) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,745,162 shares of the medical technology company’s stock after selling 780,063 shares during the period. Stryker makes up approximately 58.2% of Greenleaf Trust’s investment portfolio, making the stock its largest holding. Greenleaf Trust owned 4.65% of Stryker worth $6,389,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. FMR LLC boosted its position in shares of Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Geode Capital Management LLC grew its holdings in shares of Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Parnassus Investments LLC acquired a new stake in Stryker in the 3rd quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC lifted its stake in Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after acquiring an additional 28,421 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Up 0.1 %

Shares of SYK opened at $390.90 on Friday. The firm’s 50-day simple moving average is $376.68 and its 200 day simple moving average is $363.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market cap of $149.02 billion, a P/E ratio of 50.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter last year, the company earned $3.46 EPS. On average, analysts forecast that Stryker Co. will post 13.53 earnings per share for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.84 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SYK has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup lifted their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Wednesday. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $419.37.

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.