Arrowstreet Capital Limited Partnership Sells 199,698 Shares of Stryker Co. (NYSE:SYK)

Arrowstreet Capital Limited Partnership trimmed its position in shares of Stryker Co. (NYSE:SYK) by 67.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,091 shares of the medical technology company’s stock after selling 199,698 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Stryker were worth $34,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker in the 4th quarter valued at $25,000. Dunhill Financial LLC raised its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Rakuten Securities Inc. lifted its position in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker in the 4th quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new position in shares of Stryker in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on 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 approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Stryker Price Performance

NYSE SYK opened at $377.82 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. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The business has a 50 day simple moving average of $383.16 and a 200 day simple moving average of $374.45. The stock has a market cap of $144.21 billion, a price-to-earnings ratio of 48.69, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 last year, the business earned $3.46 EPS. Analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio is currently 43.30%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYK. Royal Bank of Canada boosted their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Citigroup reaffirmed a “buy” rating and set a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research 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. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $421.90.

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.