Stryker Co. (NYSE:SYK) Position Reduced by Payden & Rygel

Payden & Rygel reduced its position in shares of Stryker Co. (NYSE:SYK) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,100 shares of the medical technology company’s stock after selling 3,600 shares during the quarter. Stryker comprises 1.5% of Payden & Rygel’s portfolio, making the stock its 24th largest holding. Payden & Rygel’s holdings in Stryker were worth $17,318,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. J. W. Coons Advisors LLC grew its stake in shares of Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after purchasing an additional 26 shares during the period. Mascoma Wealth Management LLC grew its position in Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after acquiring an additional 27 shares during the period. Opal Wealth Advisors LLC raised its stake in Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after acquiring an additional 28 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 28 shares during the period. Finally, Capital & Planning LLC boosted its stake in shares of Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction 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 completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The shares were 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 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 disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYK. Wells Fargo & Company lifted their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Canaccord Genuity Group increased their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five investment 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Stock Down 6.0 %

Shares of Stryker stock opened at $346.14 on Friday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The business has a fifty day simple moving average of $381.69 and a 200 day simple moving average of $374.23. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $132.12 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 prior year, the business posted $3.46 EPS. Research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

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.