Synovus Financial Corp Sells 3,035 Shares of Stryker Co. (NYSE:SYK)

Synovus Financial Corp decreased its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 20.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,762 shares of the medical technology company's stock after selling 3,035 shares during the quarter. Synovus Financial Corp's holdings in Stryker were worth $4,239,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after buying an additional 252,188 shares during the last quarter. FMR LLC lifted its holdings in shares of Stryker by 10.0% during the fourth 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 last quarter. Geode Capital Management LLC raised its holdings in Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after buying an additional 168,436 shares during the period. Norges Bank purchased a new position in shares of Stryker in the fourth quarter worth approximately $1,710,744,000. Finally, Invesco Ltd. raised its holdings in shares of Stryker by 15.3% during the fourth quarter. Invesco Ltd. now owns 2,007,105 shares of the medical technology company's stock valued at $722,658,000 after acquiring an additional 266,587 shares during the period. Institutional investors own 77.09% of the company's stock.

Stryker Trading Down 0.1 %

Shares of NYSE SYK traded down $0.21 during midday trading on Friday, hitting $346.46. The stock had a trading volume of 1,349,873 shares, compared to its average volume of 1,362,954. The firm has a market cap of $132.24 billion, a P/E 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 current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company's 50-day simple moving average is $371.83 and its 200 day simple moving average is $373.11.

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 net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the firm earned $3.46 EPS. Research analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid 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 dividend yield of 0.97%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

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 transaction of $78,993,998.08. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of 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 position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYK shares. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group boosted their price objective on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $423.53.

Stryker 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.