Stryker Co. (NYSE:SYK) Shares Sold by Connable Office Inc.

Connable Office Inc. lessened its position in Stryker Co. (NYSE:SYK) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,161 shares of the medical technology company’s stock after selling 245 shares during the period. Stryker comprises 4.6% of Connable Office Inc.’s portfolio, making the stock its 4th largest holding. Connable Office Inc.’s holdings in Stryker were worth $43,984,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC grew its holdings in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. Geode Capital Management LLC grew its holdings in Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares during the period. Parnassus Investments LLC purchased a new stake in Stryker in the third quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC grew its holdings in Stryker by 1.5% in the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after purchasing an additional 28,421 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Citigroup reiterated a “buy” rating and set a $450.00 price objective on shares of Stryker in a research note on Wednesday. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity Group upped their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Stock Down 0.6 %

Shares of NYSE:SYK opened at $386.55 on Friday. The stock has a market capitalization of $147.50 billion, a price-to-earnings ratio of 49.81, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company’s fifty day moving average is $380.50 and its two-hundred day moving average is $370.92. 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 earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 business earned $3.46 EPS. Equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current 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 issued 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 dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated 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 in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, 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 insiders.

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.