Clearbridge Investments LLC Sells 114,445 Shares of Stryker Co. (NYSE:SYK)

Clearbridge Investments LLC lowered its stake in shares of Stryker Co. (NYSE:SYK) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,098,886 shares of the medical technology company’s stock after selling 114,445 shares during the quarter. Clearbridge Investments LLC owned about 0.55% of Stryker worth $755,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker during the 4th quarter worth approximately $25,000. Dunhill Financial LLC increased its stake in shares of Stryker by 94.9% in the 3rd 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 last quarter. Rakuten Securities Inc. raised its holdings in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker during the 4th quarter worth $30,000. Finally, BankPlus Trust Department acquired a new stake in Stryker in the fourth quarter valued at about $33,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.9 %

SYK stock opened at $364.38 on Friday. The company has a market cap of $139.08 billion, a P/E ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The stock’s 50 day simple moving average is $384.08 and its 200 day simple moving average is $374.32. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week 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.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 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 last year, the company posted $3.46 earnings per share. On average, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is 43.30%.

Insider Activity

In other Stryker news, 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 value of $941,586.06. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $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. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. JPMorgan Chase & Co. increased their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. Citigroup reiterated a “buy” rating and issued a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Wells Fargo & Company upped their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

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.