Franklin Resources Inc. Sells 501,066 Shares of Stryker Co. (NYSE:SYK)

Franklin Resources Inc. lessened its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,521,900 shares of the medical technology company's stock after selling 501,066 shares during the period. Franklin Resources Inc. owned about 0.92% of Stryker worth $1,268,060,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker in the fourth quarter valued at $25,000. Dunhill Financial LLC lifted its holdings in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after buying an additional 37 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new stake in Stryker in the fourth quarter worth $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker during the 4th quarter valued at $33,000. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.

Stryker Stock Performance

Shares of SYK stock traded down $18.06 during mid-day trading on Friday, reaching $350.09. 2,054,851 shares of the company's stock traded hands, compared to its average volume of 1,310,075. The firm has a 50 day moving average price of $382.64 and a two-hundred day moving average price of $374.41. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $133.62 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the firm posted $3.46 earnings per share. On average, research analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, March 31st. Stryker's dividend payout ratio (DPR) is 43.30%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Citigroup reissued a "buy" rating and set a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Finally, Truist Financial increased their target price on Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $421.90.

Stryker 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.