Clearbridge Investments LLC Has $755.70 Million Position in Stryker Co. (NYSE:SYK)

Clearbridge Investments LLC lowered its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,098,886 shares of the medical technology company's stock after selling 114,445 shares during the quarter. Clearbridge Investments LLC owned 0.55% of Stryker worth $755,704,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in Stryker during the third quarter valued at approximately $317,000. Townsquare Capital LLC boosted its position in Stryker by 11.9% during the third quarter. Townsquare Capital LLC now owns 7,468 shares of the medical technology company's stock valued at $2,698,000 after purchasing an additional 792 shares during the last quarter. CreativeOne Wealth LLC grew its stake in Stryker by 46.8% in the third quarter. CreativeOne Wealth LLC now owns 2,078 shares of the medical technology company's stock valued at $751,000 after purchasing an additional 662 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Stryker by 6.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 54,564 shares of the medical technology company's stock worth $19,712,000 after purchasing an additional 3,358 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Stryker by 18.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 255,436 shares of the medical technology company's stock valued at $92,279,000 after buying an additional 40,411 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction 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 in the company, valued at $1,428,567,498. This 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 insiders.

Stryker Stock Performance

Shares of NYSE:SYK traded down $9.06 during trading on Thursday, hitting $368.40. 1,748,479 shares of the stock were exchanged, compared to its average volume of 1,299,198. The company's fifty day simple moving average is $383.16 and its 200-day simple moving average is $374.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market capitalization of $140.61 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

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 (EPS) 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 period in the previous year, the business posted $3.46 earnings per share. Sell-side analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 0.91%. Stryker's payout ratio is presently 43.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SYK. Barclays raised their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Truist Financial raised 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. Argus set a $450.00 price objective on shares of Stryker in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $421.90.

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.