Westpac Banking Corp cut its stake in Stryker Co. (NYSE:SYK - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,310 shares of the medical technology company's stock after selling 2,072 shares during the period. Stryker comprises about 0.6% of Westpac Banking Corp's investment portfolio, making the stock its 29th largest position. Westpac Banking Corp's holdings in Stryker were worth $9,473,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the stock. Chicago Capital LLC increased its position in shares of Stryker by 3.1% during the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock worth $70,228,000 after acquiring an additional 5,841 shares during the period. Zhang Financial LLC increased its holdings in Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock worth $41,366,000 after purchasing an additional 40,784 shares during the period. Appleton Partners Inc. MA raised its position in Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after purchasing an additional 1,400 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after buying an additional 1,561 shares during the period. Finally, US Bancorp DE grew its position in shares of Stryker by 0.5% during the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock worth $65,829,000 after buying an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SYK. Truist Financial upped their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Citigroup reissued a "buy" rating and set a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Wells Fargo & Company boosted their price objective 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. Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada upped their price objective on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $421.90.
Read Our Latest Research Report on Stryker
Insider Activity
In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, 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 company'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 transaction, the director now 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 position. The disclosure for this sale can be found here. Company insiders own 5.50% of the company's stock.
Stryker Stock Performance
Stryker stock traded down $22.01 during midday trading on Friday, hitting $346.14. 3,956,734 shares of the company were exchanged, compared to its average volume of 1,321,179. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a market capitalization of $132.12 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The business has a fifty day simple moving average of $381.69 and a two-hundred day simple moving average of $374.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.
Stryker (NYSE:SYK - Get Free Report) last posted 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 net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the business posted $3.46 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.
Stryker Announces Dividend
The firm also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. Stryker's dividend payout ratio is currently 43.30%.
About Stryker
(
Free Report)
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.
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