Stryker Co. (NYSE:SYK) Shares Sold by Patten Group Inc.

Patten Group Inc. reduced its position in shares of Stryker Co. (NYSE:SYK) by 0.3% during the 4th quarter, HoldingsChannel reports. The fund owned 9,386 shares of the medical technology company’s stock after selling 27 shares during the period. Patten Group Inc.’s holdings in Stryker were worth $3,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Chicago Capital LLC increased its position in shares of Stryker by 3.1% in the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after buying an additional 5,841 shares in the last quarter. Zhang Financial LLC increased its holdings in Stryker by 55.0% in the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after acquiring an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA raised its position in Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after acquiring an additional 1,400 shares during the period. Metis Global Partners LLC lifted its holdings in Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after purchasing an additional 1,561 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after purchasing an additional 976 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SYK. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Stifel Nicolaus increased their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Citigroup reaffirmed a “buy” rating and set a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Stock Performance

Shares of SYK stock opened at $394.53 on Tuesday. The firm has a 50 day moving average of $381.06 and a two-hundred day moving average of $371.92. The stock has a market capitalization of $150.54 billion, a PE ratio of 50.84, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

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

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the business’s 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker 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.