Westpac Banking Corp Sells 2,072 Shares of Stryker Co. (NYSE:SYK)

Westpac Banking Corp reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,310 shares of the medical technology company’s stock after selling 2,072 shares during the period. Stryker comprises 0.6% of Westpac Banking Corp’s portfolio, making the stock its 29th largest holding. Westpac Banking Corp’s holdings in Stryker were worth $9,473,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SYK. Norges Bank bought a new stake in Stryker in the 4th quarter valued at $1,710,744,000. Raymond James Financial Inc. purchased a new stake in shares of Stryker during the fourth quarter valued at $353,394,000. Proficio Capital Partners LLC increased its position in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after acquiring an additional 595,061 shares during the period. RTW Investments LP purchased a new stake in shares of Stryker in the 3rd quarter worth $143,392,000. Finally, State Street Corp grew its holdings in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Up 1.2 %

Shares of Stryker stock opened at $377.82 on Thursday. The firm has a market capitalization of $144.21 billion, a PE ratio of 48.69, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company’s fifty day moving average price is $383.16 and its two-hundred day moving average price is $374.45. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company earned $3.46 earnings per share. On average, analysts expect 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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

Insider Buying and Selling at Stryker

In other Stryker 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 completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYK. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. 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. Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $421.90.

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.