Pinebridge Investments L.P. Sells 67,739 Shares of Stryker Co. (NYSE:SYK)

Pinebridge Investments L.P. lowered its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 72.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,229 shares of the medical technology company's stock after selling 67,739 shares during the period. Pinebridge Investments L.P.'s holdings in Stryker were worth $9,444,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after acquiring an additional 54,693 shares in the last quarter. FMR LLC boosted its holdings in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Geode Capital Management LLC grew its stake in Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after purchasing an additional 168,436 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Stryker in the 4th quarter valued at approximately $1,710,744,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 1.5 %

Shares of Stryker stock traded up $5.47 on Tuesday, reaching $371.96. 676,304 shares of the company were exchanged, compared to its average volume of 1,354,119. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a market capitalization of $141.97 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $367.37 and a 200-day moving average price of $373.51.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping 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 last year, the business posted $3.46 earnings per share. On average, analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm'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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were 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 directly 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.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target 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. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Truist Financial lifted 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. StockNews.com lowered shares of Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Citigroup reiterated a "buy" rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $423.53.

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.