Rhumbline Advisers Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Rhumbline Advisers lessened its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 652,610 shares of the medical technology company's stock after selling 14,261 shares during the period. Rhumbline Advisers owned approximately 0.17% of Stryker worth $234,972,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC boosted its position in Stryker by 94.9% in 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. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the 3rd quarter valued at about $36,000. Activest Wealth Management purchased a new position in shares of Stryker during the 4th quarter valued at approximately $36,000. Crews Bank & Trust acquired a new position in shares of Stryker in the 4th quarter valued at $39,000. Finally, Hara Capital LLC purchased a new position in Stryker in the third quarter valued at $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly 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 document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYK. UBS Group raised their price objective on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Truist Financial lifted their target price 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. Finally, Morgan Stanley upgraded shares of Stryker from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $420.68.

Stryker Trading Up 0.7 %

Shares of NYSE:SYK traded up $2.69 during midday trading on Wednesday, reaching $388.30. 827,114 shares of the company's stock were exchanged, compared to its average volume of 1,406,953. The firm's 50 day simple moving average is $377.44 and its two-hundred day simple moving average is $367.94. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a market cap of $148.17 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 2.90 and a beta of 0.96.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 period in the prior year, the firm posted $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker's dividend payout ratio (DPR) is presently 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.