Banco Santander S.A. Sells 3,672 Shares of Stryker Co. (NYSE:SYK)

Banco Santander S.A. reduced its position in Stryker Co. (NYSE:SYK - Free Report) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,410 shares of the medical technology company's stock after selling 3,672 shares during the quarter. Banco Santander S.A.'s holdings in Stryker were worth $22,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. State Street Corp boosted its holdings 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 valued at $5,279,788,000 after acquiring an additional 316,404 shares during the period. FMR LLC raised its position in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company's stock worth $2,484,893,000 after buying an additional 165,490 shares during the period. Parnassus Investments LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $762,798,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Stryker by 2.5% in the fourth 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 acquiring an additional 48,819 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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Stryker Stock Down 0.8 %

NYSE SYK traded down $3.03 during mid-day trading on Friday, reaching $379.28. The stock had a trading volume of 1,961,830 shares, compared to its average volume of 1,209,637. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The stock has a market cap of $144.73 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a fifty day moving average price of $382.45 and a 200 day moving average price of $372.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. 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 0.89%. Stryker's payout ratio is currently 43.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred 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 directly owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. 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 note on Thursday, January 30th. Citigroup restated a "buy" rating and issued a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Wednesday, January 29th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $422.15.

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.