Korea Investment CORP Sells 35,230 Shares of Stryker Co. (NYSE:SYK)

Korea Investment CORP decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 301,230 shares of the medical technology company’s stock after selling 35,230 shares during the period. Korea Investment CORP owned 0.08% of Stryker worth $108,458,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after acquiring an additional 252,188 shares in the last quarter. State Street Corp increased its stake 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 valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Geode Capital Management LLC raised 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 worth $2,484,893,000 after buying an additional 165,490 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Stryker by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after buying an additional 48,819 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Stryker by 1.5% during 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 acquiring an additional 28,421 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SYK. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased their price objective on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Canaccord Genuity Group raised their price target on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Barclays boosted their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’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 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 ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $367.34 on Thursday. The company has a market capitalization 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 1-year low of $314.93 and a 1-year high of $406.19. The firm’s 50 day simple moving average is $384.74 and its two-hundred day simple moving average is $374.29. 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 issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate 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 company posted $3.46 earnings per share. Research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

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.