Stryker Co. (NYSE:SYK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Stryker Co. (NYSE:SYK) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,355,571 shares of the medical technology company’s stock after selling 171,241 shares during the quarter. Bank of New York Mellon Corp’s holdings in Stryker were worth $1,928,273,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Hendley & Co. Inc. boosted its holdings in Stryker by 4.3% during the fourth quarter. Hendley & Co. Inc. now owns 8,694 shares of the medical technology company’s stock worth $3,130,000 after buying an additional 356 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its position in shares of Stryker by 6.7% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 2,324 shares of the medical technology company’s stock valued at $839,000 after acquiring an additional 146 shares during the period. Addison Advisors LLC boosted its stake in shares of Stryker by 1.9% during the 4th quarter. Addison Advisors LLC now owns 4,043 shares of the medical technology company’s stock worth $1,456,000 after acquiring an additional 75 shares in the last quarter. BankPlus Trust Department acquired a new stake in shares of Stryker in the 4th quarter worth approximately $33,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co increased its stake in Stryker by 1.8% in the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 29,240 shares of the medical technology company’s stock valued at $10,528,000 after purchasing an additional 519 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SYK. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays increased their price target on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Wednesday, January 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $422.15.

Stryker Stock Performance

Shares of SYK stock opened at $388.11 on Tuesday. The firm has a market capitalization of $148.09 billion, a price-to-earnings ratio of 50.01, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a 50 day moving average price of $378.38 and a 200 day moving average price of $369.78. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. 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 (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 return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the company posted $3.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current 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 paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

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

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.