Arrowstreet Capital Limited Partnership Lowers Stock Position in Stryker Co. (NYSE:SYK)

Arrowstreet Capital Limited Partnership lessened its holdings in Stryker Co. (NYSE:SYK - Free Report) by 67.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,091 shares of the medical technology company's stock after selling 199,698 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Stryker were worth $34,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. L & S Advisors Inc boosted its holdings in Stryker by 2.7% during the 4th quarter. L & S Advisors Inc now owns 6,899 shares of the medical technology company's stock valued at $2,484,000 after acquiring an additional 180 shares during the period. Okabena Investment Services Inc. purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $270,000. Allianz SE purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $1,174,000. Allstate Corp bought a new position in shares of Stryker in the fourth quarter worth approximately $3,691,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Stryker by 5.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 7,812 shares of the medical technology company's stock worth $2,813,000 after buying an additional 379 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction dated 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 directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the 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 completion of the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Canaccord Genuity Group upped their price target on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Truist Financial boosted 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. Finally, Argus set a $450.00 target price on Stryker in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of "Moderate Buy" and an average price target of $421.90.

Stryker Stock Down 6.0 %

Shares of NYSE:SYK traded down $22.01 on Friday, hitting $346.14. 3,956,734 shares of the company traded hands, compared to its average volume of 1,318,949. The stock has a 50 day simple moving average of $382.64 and a 200-day simple moving average of $374.41. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a market cap of $132.12 billion, a PE ratio of 44.61, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping 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 period last year, the firm earned $3.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.97%. Stryker's dividend payout ratio (DPR) is currently 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.