Capital Research Global Investors Sells 210,559 Shares of Stryker Co. (NYSE:SYK)

Capital Research Global Investors decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,842,071 shares of the medical technology company’s stock after selling 210,559 shares during the period. Capital Research Global Investors owned 1.79% of Stryker worth $2,463,490,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker during the fourth quarter valued at $25,000. Rakuten Securities Inc. increased its stake in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker in the fourth quarter worth about $30,000. BankPlus Trust Department bought a new position in shares of Stryker in the fourth quarter worth approximately $33,000. Finally, Activest Wealth Management bought a new stake in shares of Stryker during the fourth quarter valued at approximately $36,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,428,567,498. This 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 this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

SYK opened at $346.46 on Friday. The firm has a 50 day moving average of $370.95 and a two-hundred day moving average of $373.04. The firm has a market capitalization of $132.24 billion, a PE ratio of 44.65, a P/E/G ratio of 2.93 and a beta of 0.93. 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 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 in the previous year, the firm earned $3.46 earnings per share. On average, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their price objective on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Truist Financial raised their price target on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted 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. Finally, Barclays raised their target price on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $423.53.

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.