Neuberger Berman Group LLC Sells 65,461 Shares of Stryker Co. (NYSE:SYK)

Neuberger Berman Group LLC decreased its stake in Stryker Co. (NYSE:SYK - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,488 shares of the medical technology company's stock after selling 65,461 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.13% of Stryker worth $173,037,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker in the fourth quarter valued at approximately $25,000. Rakuten Securities Inc. lifted its position in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker during the 4th quarter valued at $30,000. BankPlus Trust Department bought a new position in Stryker during the fourth quarter worth $33,000. Finally, Activest Wealth Management acquired a new stake in shares of Stryker during the 4th quarter worth about $36,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 1.9 %

Shares of SYK traded down $6.64 on Tuesday, reaching $346.78. The stock had a trading volume of 519,705 shares, compared to its average volume of 1,356,005. The firm has a market capitalization of $132.36 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company has a 50-day simple moving average of $374.63 and a 200-day simple moving average of $373.58. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

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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 (EPS) for the quarter, beating analysts' consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the business earned $3.46 earnings per share. Sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. Stryker's payout ratio is 43.30%.

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Wells Fargo & Company lifted their price target on Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Citigroup reissued a "buy" rating and issued a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. Argus set a $450.00 price target on Stryker in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $423.05.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction 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 sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

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.