QRG Capital Management Inc. Has $34.66 Million Stake in Stryker Co. (NYSE:SYK)

QRG Capital Management Inc. boosted its position in shares of Stryker Co. (NYSE:SYK) by 57.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 96,251 shares of the medical technology company’s stock after purchasing an additional 35,002 shares during the period. QRG Capital Management Inc.’s holdings in Stryker were worth $34,655,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares in the last quarter. FMR LLC grew its stake in Stryker by 3.0% during 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 lifted its holdings 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 acquiring an additional 165,490 shares during the last quarter. Parnassus Investments LLC bought a new position in shares of Stryker in the third quarter worth about $762,798,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Stryker by 1.5% in the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after acquiring an additional 28,421 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial increased their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Citigroup reissued a “buy” rating and issued a $450.00 target price on shares of Stryker in a report on Wednesday. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $391.54 on Thursday. The company has a market capitalization of $149.40 billion, a PE ratio of 50.46, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a 50 day simple moving average of $379.42 and a two-hundred day simple moving average of $370.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the firm posted $3.46 earnings per share. Research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

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.