Prudential Financial Inc. Sells 28,904 Shares of Stryker Co. (NYSE:SYK)

Prudential Financial Inc. decreased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 13.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,124 shares of the medical technology company's stock after selling 28,904 shares during the period. Prudential Financial Inc.'s holdings in Stryker were worth $66,294,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker in the fourth quarter worth $25,000. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after purchasing an additional 37 shares during the period. Rakuten Securities Inc. boosted its stake in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new position in Stryker in the fourth quarter worth about $33,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of SYK stock traded down $3.16 during trading hours on Friday, reaching $364.38. The company had a trading volume of 1,274,307 shares, compared to its average volume of 1,289,456. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business has a fifty day moving average price of $384.08 and a 200-day moving average price of $374.32. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a market cap of $139.08 billion, a PE ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

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Stryker (NYSE:SYK - Get Free Report) last posted its earnings results 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 in the prior year, the firm posted $3.46 earnings per share. Sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. Stryker's dividend payout ratio is currently 43.30%.

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $422.00 target price on Stryker in a report on Tuesday, March 4th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Canaccord Genuity Group increased their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $421.90.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company'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 completion of the sale, the director now directly owns 3,642,075 shares of the company's stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the 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 transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

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.