Arrowstreet Capital Limited Partnership Sells 199,698 Shares of Stryker Co. (NYSE:SYK)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. L & S Advisors Inc boosted its holdings in Stryker by 2.7% during the fourth quarter. L & S Advisors Inc now owns 6,899 shares of the medical technology company's stock valued at $2,484,000 after purchasing an additional 180 shares in the last quarter. Okabena Investment Services Inc. bought a new position in shares of Stryker during the 4th quarter worth approximately $270,000. Allianz SE acquired a new stake in Stryker in the 4th quarter valued at $1,174,000. Allstate Corp acquired a new stake in Stryker in the 4th quarter valued at $3,691,000. Finally, Brown Brothers Harriman & Co. grew its position in Stryker by 5.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 7,812 shares of the medical technology company's stock valued at $2,813,000 after acquiring an additional 379 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 0.1 %

Shares of NYSE SYK traded down $0.34 during mid-day trading on Monday, hitting $345.46. The company's stock had a trading volume of 4,198,657 shares, compared to its average volume of 1,332,644. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company's fifty day simple moving average is $380.60 and its 200-day simple moving average is $374.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a market cap of $131.86 billion, a price-to-earnings ratio of 44.52, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate 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 company earned $3.46 EPS. On average, sell-side analysts anticipate 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. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. Stryker's dividend payout ratio is presently 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction 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 sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. StockNews.com lowered shares of Stryker from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Wells Fargo & Company lifted their target price on shares of Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price target on Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.