Mackenzie Financial Corp Sells 77,435 Shares of Stryker Corporation $SYK

Mackenzie Financial Corp trimmed its position in Stryker Corporation (NYSE:SYK) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,243,545 shares of the medical technology company’s stock after selling 77,435 shares during the quarter. Mackenzie Financial Corp owned 0.33% of Stryker worth $459,701,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Clayton Financial Group LLC bought a new stake in Stryker in the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Stryker during the 2nd quarter worth about $28,000. Kilter Group LLC bought a new position in shares of Stryker during the 2nd quarter worth about $29,000. Howard Hughes Medical Institute acquired a new stake in shares of Stryker during the 2nd quarter valued at about $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Stryker in the third quarter valued at about $34,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SYK shares. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. BTIG Research lifted their price objective on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Robert W. Baird set a $437.00 target price on Stryker in a research report on Friday, January 30th. Finally, UBS Group boosted 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. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $428.61.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $358.83 on Wednesday. The firm has a market cap of $137.32 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $365.82 and its two-hundred day moving average price is $368.46.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the business posted $4.01 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Stryker 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.