Greenleaf Trust Has $6.15 Billion Stake in Stryker Corporation $SYK

Greenleaf Trust lessened its position in shares of Stryker Corporation (NYSE:SYK) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,643,488 shares of the medical technology company’s stock after selling 45,736 shares during the quarter. Stryker makes up about 55.9% of Greenleaf Trust’s investment portfolio, making the stock its largest position. Greenleaf Trust’s holdings in Stryker were worth $6,152,598,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Stryker during the second quarter worth $1,882,173,000. Alliancebernstein L.P. raised its stake in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares during the period. ABN AMRO Bank N.V. acquired a new stake in shares of Stryker during the 2nd quarter valued at about $191,047,000. Finally, Vanguard Group Inc. raised its position in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Truist Financial lowered their price target on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Wells Fargo & Company lifted their price objective on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $430.40.

Stryker Trading Up 0.2%

Shares of SYK opened at $348.75 on Tuesday. The stock has a fifty day moving average price of $359.94 and a two-hundred day moving average price of $375.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a market cap of $133.37 billion, a price-to-earnings ratio of 45.83, a PEG ratio of 2.23 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the prior year, the business earned $2.87 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is 46.25%.

Insiders Place Their Bets

In related news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 522,118 shares of company stock valued at $185,381,932. Insiders own 5.20% of the company’s stock.

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.