Geode Capital Management LLC Acquires 168,436 Shares of Stryker Co. (NYSE:SYK)

Geode Capital Management LLC increased its position in Stryker Co. (NYSE:SYK - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,073,562 shares of the medical technology company's stock after purchasing an additional 168,436 shares during the period. Geode Capital Management LLC owned approximately 1.86% of Stryker worth $2,539,033,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker during the 4th quarter worth approximately $25,000. Dunhill Financial LLC boosted its position in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after buying an additional 37 shares during the last quarter. Rakuten Securities Inc. raised its position in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Stryker during the 4th quarter valued at $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker during the 4th quarter worth $33,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several analyst reports. 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 research report on Thursday, January 30th. Citigroup reissued a "buy" rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. StockNews.com lowered Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group upped 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. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $421.90.

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Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 201,392 shares of the 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was 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 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 insiders.

Stryker Price Performance

NYSE SYK traded down $9.34 on Thursday, hitting $368.12. The stock had a trading volume of 3,306,021 shares, compared to its average volume of 1,304,839. The company has a market capitalization of $140.51 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a 50-day moving average of $383.16 and a 200-day moving average of $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.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results 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 firm earned $3.46 earnings per share. Equities analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. Stryker's payout ratio is 43.30%.

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.