Westpac Banking Corp Has $9.47 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Westpac Banking Corp trimmed its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,310 shares of the medical technology company's stock after selling 2,072 shares during the quarter. Stryker makes up about 0.6% of Westpac Banking Corp's investment portfolio, making the stock its 29th largest holding. Westpac Banking Corp's holdings in Stryker were worth $9,473,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC raised its holdings in shares of Stryker by 10.6% during the 4th quarter. SevenBridge Financial Group LLC now owns 1,496 shares of the medical technology company's stock valued at $584,000 after purchasing an additional 143 shares in the last quarter. OneAscent Financial Services LLC bought a new stake in shares of Stryker during the 4th quarter worth about $475,000. Huntington National Bank increased its holdings in shares of Stryker by 5.9% during the 4th quarter. Huntington National Bank now owns 283,703 shares of the medical technology company's stock valued at $102,148,000 after acquiring an additional 15,900 shares during the last quarter. Private Portfolio Partners LLC lifted its holdings in Stryker by 14.9% in the 4th quarter. Private Portfolio Partners LLC now owns 1,120 shares of the medical technology company's stock worth $403,000 after purchasing an additional 145 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in Stryker by 1.5% during the 4th quarter. Meeder Advisory Services Inc. now owns 8,883 shares of the medical technology company's stock worth $3,198,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research reports. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. 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 research note on Wednesday, January 29th. Citigroup restated a "buy" rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Barclays boosted their price target on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Finally, Argus set a $450.00 price objective on Stryker in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $421.90.

Stryker Trading Up 1.0 %

SYK traded up $3.53 during trading on Tuesday, reaching $348.87. 620,669 shares of the company's stock were exchanged, compared to its average volume of 1,329,934. The company's fifty day moving average price is $380.60 and its 200-day moving average price is $374.26. 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 capitalization of $133.16 billion, a PE ratio of 44.82, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business earned $3.46 EPS. As a group, equities analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.96%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Insider Transactions at Stryker

In other Stryker 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 transaction, the director now directly owns 3,642,075 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the 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 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 disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Company 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.