Franklin Resources Inc. Lowers Stock Position in Stryker Co. (NYSE:SYK)

Franklin Resources Inc. lowered its position in Stryker Co. (NYSE:SYK) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,521,900 shares of the medical technology company’s stock after selling 501,066 shares during the quarter. Franklin Resources Inc. owned 0.92% of Stryker worth $1,268,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after acquiring an additional 252,188 shares in the last quarter. State Street Corp grew 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 valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Geode Capital Management LLC boosted its position in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares during the last quarter. Norges Bank purchased a new stake in shares of Stryker during the fourth quarter worth about $1,710,744,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after buying an additional 48,819 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $364.38 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market cap of $139.08 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company’s fifty day moving average is $384.08 and its 200-day moving average is $374.37.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the business earned $3.46 EPS. Equities analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. Stryker’s payout ratio is 43.30%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SYK has been the subject of several research analyst reports. Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Citigroup reissued a “buy” rating and issued a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. Wells Fargo & Company increased their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial upped their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $421.90.

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.