Wellington Management Group LLP Decreases Stock Position in Stryker Co. (NYSE:SYK)

Wellington Management Group LLP trimmed its position in Stryker Co. (NYSE:SYK - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,377,750 shares of the medical technology company's stock after selling 1,716,746 shares during the period. Wellington Management Group LLP owned approximately 2.20% of Stryker worth $3,016,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Dynamic Technology Lab Private Ltd bought a new stake in shares of Stryker in the third quarter valued at approximately $317,000. Townsquare Capital LLC lifted its stake in shares of Stryker by 11.9% in the third quarter. Townsquare Capital LLC now owns 7,468 shares of the medical technology company's stock worth $2,698,000 after acquiring an additional 792 shares during the period. CreativeOne Wealth LLC increased its position in shares of Stryker by 46.8% during the third quarter. CreativeOne Wealth LLC now owns 2,078 shares of the medical technology company's stock worth $751,000 after buying an additional 662 shares during the period. Rockefeller Capital Management L.P. increased its position in Stryker by 6.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 54,564 shares of the medical technology company's stock valued at $19,712,000 after buying an additional 3,358 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Stryker by 18.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 255,436 shares of the medical technology company's stock valued at $92,279,000 after acquiring an additional 40,411 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

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Stryker Trading Down 2.3 %

Stryker stock traded down $8.56 during trading hours on Thursday, hitting $368.90. The company had a trading volume of 2,371,481 shares, compared to its average volume of 1,302,195. 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 firm has a market cap of $140.80 billion, a P/E ratio of 47.56, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a 50-day moving average price of $383.16 and a two-hundred day moving average price of $374.45. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 last year, the firm posted $3.46 earnings per share. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio (DPR) is 43.30%.

Analyst Ratings Changes

Several brokerages have weighed in on SYK. Argus set a $450.00 price objective on Stryker in a report on Monday, February 3rd. Citigroup reaffirmed a "buy" rating and issued a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Royal Bank of Canada raised their price objective on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $421.90.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business's 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 completion of the transaction, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.50% 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.