Chevy Chase Trust Holdings LLC Cuts Stake in Stryker Co. (NYSE:SYK)

Chevy Chase Trust Holdings LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 192,816 shares of the medical technology company’s stock after selling 3,955 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Stryker were worth $69,423,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Dunhill Financial LLC raised its holdings in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker during the 3rd quarter valued at $36,000. Activest Wealth Management bought a new stake in Stryker during the 4th quarter valued at $36,000. Crews Bank & Trust bought a new stake in Stryker during the 4th quarter valued at $39,000. Finally, Hara Capital LLC bought a new stake in Stryker during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $388.28 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company’s 50-day moving average is $377.19 and its 200 day moving average is $366.15. The company has a market capitalization of $148.02 billion, a price-to-earnings ratio of 50.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. 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 announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 in the prior year, the business posted $3.46 EPS. Sell-side analysts expect that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYK. Barclays upped their price target on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group upped their price objective on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. 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 report on Thursday, January 30th. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.