BlackRock Inc. Has $6.02 Billion Stock Position in Stryker Co. (NYSE:SYK)

BlackRock Inc. trimmed its position in Stryker Co. (NYSE:SYK) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,168,204 shares of the medical technology company’s stock after selling 1,437,046 shares during the quarter. BlackRock Inc. owned approximately 6.14% of Stryker worth $6,017,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its position in shares of Stryker by 49.4% in the first quarter. Ameriprise Financial Inc. now owns 1,762,597 shares of the medical technology company’s stock worth $429,402,000 after purchasing an additional 582,538 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Stryker by 26.4% in the second quarter. WCM Investment Management LLC now owns 2,721,652 shares of the medical technology company’s stock worth $706,895,000 after purchasing an additional 568,957 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Stryker by 62.9% in the first quarter. Nordea Investment Management AB now owns 937,785 shares of the medical technology company’s stock worth $229,110,000 after purchasing an additional 361,999 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Stryker by 113.6% in the first quarter. Canada Pension Plan Investment Board now owns 528,959 shares of the medical technology company’s stock worth $128,844,000 after purchasing an additional 281,363 shares in the last quarter. Finally, Barclays PLC raised its position in Stryker by 77.4% during the first quarter. Barclays PLC now owns 638,780 shares of the medical technology company’s stock valued at $155,593,000 after acquiring an additional 278,647 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

Several brokerages recently weighed in on SYK. Argus raised their price objective on shares of Stryker from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. SVB Leerink raised their price objective on shares of Stryker from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Truist Securities raised their price objective on shares of Stryker from $250.00 to $275.00 and gave the company a “hold” rating in a research report on Wednesday, July 28th. Northland Securities raised shares of Stryker from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $248.00 to $310.00 in a research report on Wednesday, July 28th. Finally, Morgan Stanley raised their price objective on shares of Stryker from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Buy” and a consensus target price of $287.18.

In other Stryker news, Director Ronda E. Stryker sold 150,000 shares of the stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $262.26, for a total value of $39,339,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert S. Fletcher sold 1,120 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $261.10, for a total value of $292,432.00. Following the sale, the vice president now directly owns 4,533 shares of the company’s stock, valued at approximately $1,183,566.30. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

SYK opened at $268.33 on Tuesday. Stryker Co. has a fifty-two week low of $196.09 and a fifty-two week high of $281.16. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 1.32. The firm’s fifty day moving average price is $267.41 and its two-hundred day moving average price is $257.79. The company has a market capitalization of $101.19 billion, a P/E ratio of 49.14, a P/E/G ratio of 3.08 and a beta of 0.98.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Monday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.13. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Stryker had a return on equity of 26.08% and a net margin of 12.82%. The business’s revenue was up 55.4% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. On average, equities research analysts expect that Stryker Co. will post 9.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.52 annualized dividend and a dividend yield of 0.94%. Stryker’s dividend payout ratio is presently 33.92%.

Stryker Profile

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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