Stryker Co. (NYSE:SYK) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its position in Stryker Co. (NYSE:SYK - Free Report) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 173,965 shares of the medical technology company's stock after acquiring an additional 3,855 shares during the period. Toronto Dominion Bank's holdings in Stryker were worth $62,847,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Street Corp raised its holdings in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC increased its position in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock worth $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company's stock worth $2,484,893,000 after buying an additional 165,490 shares during the period. Clearbridge Investments LLC lifted its position in shares of Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock valued at $790,554,000 after buying an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $762,798,000. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company's stock, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SYK shares. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Royal Bank of Canada reissued an "outperform" rating and set a $425.00 target price (up previously from $400.00) on shares of Stryker in a research note on Wednesday. Finally, Evercore ISI upped their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $404.35.

Stryker Trading Down 0.3 %

Shares of NYSE:SYK traded down $1.15 on Thursday, hitting $375.01. 846,011 shares of the company's stock were exchanged, compared to its average volume of 1,260,068. The business's 50 day simple moving average is $372.42 and its two-hundred day simple moving average is $354.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market capitalization of $142.96 billion, a price-to-earnings ratio of 40.23, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the previous year, the company earned $2.46 EPS. The firm's quarterly revenue was up 11.9% on a year-over-year basis. Analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. This is a boost from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker's dividend payout ratio is currently 36.01%.

About Stryker

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.