Zurcher Kantonalbank Zurich Cantonalbank Has $52.95 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in Stryker Co. (NYSE:SYK - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,069 shares of the medical technology company's stock after selling 7,322 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Stryker were worth $52,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter valued at approximately $25,000. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 37 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $30,000. BankPlus Trust Department acquired a new stake in shares of Stryker in the fourth quarter worth $33,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter worth $36,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYK. Truist Financial raised 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. Wells Fargo & Company raised 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. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research note on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $421.90.

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Stryker Stock Down 0.6 %

NYSE SYK traded down $2.14 during trading hours on Wednesday, reaching $363.15. 908,061 shares of the company's stock were exchanged, compared to its average volume of 1,214,072. The company's 50-day moving average is $382.70 and its two-hundred day moving average is $373.40. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. 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 company has a market capitalization of $138.57 billion, a price-to-earnings ratio of 46.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

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 (EPS) for the quarter, topping 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 in the previous year, the business posted $3.46 earnings per share. On average, analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm 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 dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. Stryker's dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on 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 approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly 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 position. The disclosure for this sale can be found here. Company 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.