Rockefeller Capital Management L.P. Has $21.72 Million Stake in Stryker Co. (NYSE:SYK)

Rockefeller Capital Management L.P. lifted its position in Stryker Co. (NYSE:SYK - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,324 shares of the medical technology company's stock after acquiring an additional 5,760 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Stryker were worth $21,720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Norges Bank purchased a new position in shares of Stryker during the fourth quarter valued at $1,710,744,000. Raymond James Financial Inc. purchased a new position in Stryker during the 4th quarter valued at about $353,394,000. FMR LLC increased its holdings in shares of Stryker by 10.0% in the 4th 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 period. Proficio Capital Partners LLC boosted its holdings in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after purchasing an additional 595,061 shares during the period. Finally, APG Asset Management N.V. grew its position in Stryker by 1,695.0% during the fourth quarter. APG Asset Management N.V. now owns 370,226 shares of the medical technology company's stock valued at $128,730,000 after purchasing an additional 349,601 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value 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 approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. 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 equities research analysts have issued reports on SYK shares. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Truist Financial upped their target price on Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their price target on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $423.53.

Stryker Stock Performance

Shares of SYK traded down $0.21 during mid-day trading on Friday, hitting $346.46. The company's stock had a trading volume of 1,349,873 shares, compared to its average volume of 1,362,954. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The stock's 50-day moving average is $371.83 and its two-hundred day moving average is $373.11. The firm has a market capitalization of $132.24 billion, a PE ratio of 44.65, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. 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 posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $3.46 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio (DPR) is presently 43.30%.

About Stryker

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.