Clearbridge Investments LLC Reduces Stock Position in Stryker Co. (NYSE:SYK)

Clearbridge Investments LLC trimmed its holdings in Stryker Co. (NYSE:SYK) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,098,886 shares of the medical technology company’s stock after selling 114,445 shares during the period. Clearbridge Investments LLC’s holdings in Stryker were worth $755,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker in the 4th quarter worth about $25,000. Dunhill Financial LLC lifted its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in 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 bought a new stake in Stryker during the fourth quarter valued at $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Trading Down 0.9 %

Shares of NYSE:SYK opened at $364.38 on Friday. The business’s fifty day simple moving average is $384.08 and its 200-day simple moving average is $374.32. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market capitalization of $139.08 billion, a PE ratio of 46.96, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 earned $3.46 EPS. As a group, equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Truist Financial lifted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Barclays upped their price objective on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.