Stryker Co. (NYSE:SYK) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. raised its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,700 shares of the medical technology company's stock after buying an additional 3,406 shares during the period. Corebridge Financial Inc.'s holdings in Stryker were worth $36,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Chicago Capital LLC boosted its holdings in Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock valued at $70,228,000 after acquiring an additional 5,841 shares during the period. Zhang Financial LLC lifted its position in shares of Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA boosted its stake in shares of Stryker by 5.0% in the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after purchasing an additional 1,400 shares during the period. Metis Global Partners LLC grew its holdings in shares of Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after purchasing an additional 1,561 shares in the last quarter. Finally, US Bancorp DE increased its stake in Stryker by 0.5% during the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock worth $65,829,000 after buying an additional 976 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction 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 transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the company's 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 transaction, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on SYK shares. Needham & Company LLC restated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Citigroup reissued a "buy" rating and set a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Canaccord Genuity Group increased 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. Stifel Nicolaus lifted their price objective on Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Finally, Argus set a $450.00 target price on shares of Stryker in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $421.90.

Stryker Stock Performance

SYK stock traded down $3.16 on Friday, hitting $364.38. The company's stock had a trading volume of 1,274,307 shares, compared to its average volume of 1,289,456. The stock has a market cap of $139.08 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm has a 50 day moving average of $384.08 and a two-hundred day moving average of $374.25. 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 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 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 period in the previous year, the business earned $3.46 earnings per share. Equities analysts predict that Stryker Co. will post 13.47 EPS 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 dividend yield of 0.92%. Stryker's dividend payout ratio (DPR) is currently 43.30%.

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.