Bessemer Group Inc. Reduces Stock Position in Stryker Co. (NYSE:SYK)

Bessemer Group Inc. trimmed its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,930 shares of the medical technology company's stock after selling 1,918 shares during the period. Bessemer Group Inc.'s holdings in Stryker were worth $7,176,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker during the fourth quarter worth about $25,000. Rakuten Securities Inc. lifted its holdings in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter worth $30,000. BankPlus Trust Department bought a new stake in Stryker in the 4th quarter valued at $33,000. Finally, Activest Wealth Management bought a new position in shares of Stryker during the 4th quarter valued at about $36,000. Institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm'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 completion of the sale, the director now owns 3,642,075 shares of the company's stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 14,895 shares of the company's stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

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Stryker Stock Down 1.9 %

Shares of Stryker stock traded down $6.54 during trading on Tuesday, hitting $346.88. 1,670,378 shares of the stock traded hands, compared to its average volume of 1,361,566. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock's fifty day simple moving average is $374.63 and its 200 day simple moving average is $373.58. The firm has a market cap of $132.40 billion, a P/E ratio of 44.70, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. 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 (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 quarter last year, the business earned $3.46 EPS. On average, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 annualized dividend and a yield of 0.97%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Analyst Ratings Changes

A number of brokerages recently commented on SYK. Citigroup reissued a "buy" rating and set a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their target price on shares of Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Truist Financial increased their price target on shares of Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $423.05.

Stryker Company 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.