AustralianSuper Pty Ltd Sells 96,379 Shares of Stryker Co. (NYSE:SYK)

AustralianSuper Pty Ltd decreased its position in Stryker Co. (NYSE:SYK) by 18.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 438,037 shares of the medical technology company’s stock after selling 96,379 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Stryker were worth $157,715,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Chicago Capital LLC grew its holdings 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 purchasing an additional 5,841 shares during the last quarter. Zhang Financial LLC lifted its position 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 buying an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA lifted 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 worth $10,521,000 after buying an additional 1,400 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Stryker in the 4th quarter valued at about $587,000. Finally, Berkshire Bank raised its stake in shares of Stryker by 13.8% in the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after acquiring an additional 1,030 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on SYK shares. Citigroup increased their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company increased their price objective on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Robert W. Baird raised their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $420.68.

Stryker Stock Performance

SYK stock opened at $388.28 on Friday. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business’s 50-day moving average price is $377.19 and its two-hundred day moving average price is $366.15. The firm has a market cap of $148.02 billion, a PE ratio of 50.04, a P/E/G ratio of 2.98 and a beta of 0.96. 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 (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm posted $3.46 earnings per share. As a group, research analysts forecast that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.90% of the company’s stock.

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.