Parthenon LLC Sells 610 Shares of Stryker Co. (NYSE:SYK)

Parthenon LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,380 shares of the medical technology company’s stock after selling 610 shares during the quarter. Stryker makes up about 1.7% of Parthenon LLC’s investment portfolio, making the stock its 18th largest holding. Parthenon LLC’s holdings in Stryker were worth $13,819,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SYK. State Street Corp increased its stake in shares of Stryker by 2.2% in 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 purchasing an additional 316,404 shares in the last quarter. FMR LLC increased its position in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 period. Parnassus Investments LLC purchased a new position in shares of Stryker during the 3rd quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC grew its stake in shares of Stryker by 1.5% during the 3rd 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 during the period. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

Stryker stock opened at $388.30 on Thursday. The company’s 50-day moving average price is $377.69 and its 200-day moving average price is $368.08. 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 company has a market cap of $148.17 billion, a PE ratio of 50.04, a price-to-earnings-growth ratio of 2.90 and a beta of 0.96. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the company earned $3.46 EPS. On average, equities research analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio is presently 43.30%.

Analysts Set New Price Targets

SYK has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. Stifel Nicolaus increased their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Truist Financial raised their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, BTIG Research upped their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $420.68.

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.