IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 3,600 Shares of Stryker Co. (NYSE:SYK)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,714 shares of the medical technology company’s stock after selling 3,600 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Stryker were worth $6,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Rockbridge Investment Management LCC purchased a new stake in Stryker during the fourth quarter worth about $385,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of Stryker during the 4th quarter worth approximately $407,000. NEOS Investment Management LLC raised its holdings in shares of Stryker by 27.6% in the 4th quarter. NEOS Investment Management LLC now owns 21,361 shares of the medical technology company’s stock worth $7,691,000 after purchasing an additional 4,619 shares during the period. UniSuper Management Pty Ltd lifted its stake in Stryker by 31.2% in the fourth quarter. UniSuper Management Pty Ltd now owns 21,501 shares of the medical technology company’s stock valued at $7,741,000 after purchasing an additional 5,117 shares during the last quarter. Finally, Sava Infond d.o.o. bought a new position in Stryker during the fourth quarter valued at $1,494,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup reiterated a “buy” rating and issued a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Argus set a $450.00 price target on Stryker in a research report on Monday, February 3rd. Finally, Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Stryker Stock Down 1.5 %

NYSE:SYK opened at $367.34 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market cap of $140.17 billion, a P/E ratio of 47.34, a P/E/G ratio of 2.93 and a beta of 0.95. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a 50-day simple moving average of $384.74 and a two-hundred day simple moving average of $374.29.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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 period last year, the company posted $3.46 earnings per share. Analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on 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 owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 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.