Mechanics Financial Corp Sells 1,007 Shares of Stryker Co. (NYSE:SYK)

Mechanics Financial Corp lowered its position in Stryker Co. (NYSE:SYK - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,405 shares of the medical technology company's stock after selling 1,007 shares during the period. Mechanics Financial Corp's holdings in Stryker were worth $866,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after buying an additional 252,188 shares during the last quarter. State Street Corp lifted its position in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock worth $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company's stock valued at $2,484,893,000 after purchasing an additional 165,490 shares during the period. Norges Bank acquired a new stake in shares of Stryker during the fourth quarter valued at about $1,710,744,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Stryker by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company's stock valued at $714,715,000 after purchasing an additional 48,819 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

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Insider Transactions at Stryker

In related news, 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $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 corporate insiders.

Stryker Stock Performance

NYSE:SYK traded up $1.63 during mid-day trading on Wednesday, reaching $374.93. 686,021 shares of the company's stock were exchanged, compared to its average volume of 1,291,468. The business's fifty day simple moving average is $383.41 and its two-hundred day simple moving average is $374.43. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a market capitalization of $143.11 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. 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 released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the firm earned $3.46 earnings per share. Analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio is presently 43.30%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SYK shares. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Truist Financial increased their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Barclays lifted their target price on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. JPMorgan Chase & Co. upped their price target on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average target price of $421.90.

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.