Clearbridge Investments LLC Cuts Stake in Stryker Co. (NYSE:SYK)

Clearbridge Investments LLC reduced its stake in Stryker Co. (NYSE:SYK - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent disclosure 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 owned 0.55% of Stryker worth $755,704,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYK. Dynamic Technology Lab Private Ltd bought a new stake in shares of Stryker during the third quarter valued at approximately $317,000. Townsquare Capital LLC increased its stake in Stryker by 11.9% during the 3rd 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 in the last quarter. CreativeOne Wealth LLC increased its stake in Stryker by 46.8% during the 3rd 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. raised its holdings in Stryker by 6.6% during the third quarter. Rockefeller Capital Management L.P. now owns 54,564 shares of the medical technology company's stock worth $19,712,000 after buying an additional 3,358 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Stryker by 18.8% in the third 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 in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

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Stryker Stock Performance

NYSE SYK traded up $4.52 during trading on Wednesday, hitting $377.82. 1,801,598 shares of the company's stock traded hands, compared to its average volume of 1,295,675. 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 stock has a market capitalization of $144.21 billion, a price-to-earnings ratio of 48.69, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The business has a 50 day moving average of $383.41 and a 200-day moving average of $374.43.

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, 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 quarter in the previous year, the company posted $3.46 EPS. As a group, equities research 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 paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's payout ratio is 43.30%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYK. StockNews.com lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Tuesday, February 18th. Stifel Nicolaus upped their price target on Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Canaccord Genuity Group raised their price objective on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research note 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 company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $421.90.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction 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 transaction, the director now directly 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. 5.50% of the stock is owned by corporate insiders.

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.