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

Mackenzie Financial Corp cut its stake in shares of Stryker Corporation (NYSE:SYK) by 5.9% in the third quarter, Holdings Channel reports. The firm owned 1,243,545 shares of the medical technology company’s stock after selling 77,435 shares during the quarter. Mackenzie Financial Corp’s holdings in Stryker were worth $459,701,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $465.00 price objective on shares of Stryker in a report on Wednesday, March 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 target price on shares of Stryker in a report on Friday, November 14th. Needham & Company LLC lifted their price target on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Sanford C. Bernstein boosted their price target on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Finally, Barclays restated an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a research report on Monday, February 2nd. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $428.61.

Stryker Price Performance

Shares of SYK opened at $358.83 on Wednesday. The stock has a 50 day simple moving average of $365.82 and a 200 day simple moving average of $368.46. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a market capitalization of $137.32 billion, a PE ratio of 42.72, a P/E/G ratio of 2.14 and a beta of 0.85.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS 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 firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the company posted $4.01 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed 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 dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 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.