Truist Financial Corp Sells 9,491 Shares of Stryker Co. (NYSE:SYK)

Truist Financial Corp lowered its stake in Stryker Co. (NYSE:SYK - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 114,108 shares of the medical technology company's stock after selling 9,491 shares during the quarter. Truist Financial Corp's holdings in Stryker were worth $41,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. CIBC Asset Management Inc raised its stake in shares of Stryker by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 65,857 shares of the medical technology company's stock worth $23,712,000 after purchasing an additional 2,872 shares in the last quarter. Pittenger & Anderson Inc. raised its position in Stryker by 115.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 2,087 shares of the medical technology company's stock worth $751,000 after acquiring an additional 1,117 shares in the last quarter. Human Investing LLC bought a new position in shares of Stryker in the 4th quarter valued at about $72,000. Sanctuary Advisors LLC increased its stake in shares of Stryker by 1.6% during the 4th quarter. Sanctuary Advisors LLC now owns 66,596 shares of the medical technology company's stock worth $26,001,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $131,000. Institutional investors own 77.09% of the company's stock.

Stryker Price Performance

Stryker stock traded down $3.82 during trading hours on Friday, reaching $382.59. 1,268,413 shares of the stock were exchanged, compared to its average volume of 1,388,856. The stock has a 50 day moving average of $377.92 and a two-hundred day moving average of $368.21. The company has a market cap of $145.99 billion, a P/E ratio of 49.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19.

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 business earned $3.46 EPS. Equities analysts expect that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company's stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 completion of the transaction, the director now directly owns 14,895 shares of the company's stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SYK shares. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a "buy" rating and set a $442.00 target price on shares of Stryker in a report on Wednesday, January 29th. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Wells Fargo & Company raised their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $420.68.

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.