Stryker Co. (NYSE:SYK) Shares Sold by BlueSpruce Investments LP

BlueSpruce Investments LP reduced its stake in shares of Stryker Co. (NYSE:SYK) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 928,673 shares of the medical technology company’s stock after selling 89,230 shares during the quarter. Stryker accounts for 6.8% of BlueSpruce Investments LP’s holdings, making the stock its 7th biggest holding. BlueSpruce Investments LP owned approximately 0.24% of Stryker worth $334,369,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new position in Stryker in the 4th quarter valued at about $25,000. Rakuten Securities Inc. lifted its stake in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter valued at $30,000. BankPlus Trust Department bought a new position in shares of Stryker in the 4th quarter valued at $33,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Stryker during the 4th quarter worth $36,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.2 %

NYSE SYK opened at $378.60 on Monday. The stock has a market capitalization of $144.51 billion, a P/E ratio of 48.79, a P/E/G ratio of 2.93 and a beta of 0.93. The business has a 50 day simple moving average of $366.38 and a 200 day simple moving average of $373.92. 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 Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the firm posted $2.50 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio is currently 45.41%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SYK. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus raised their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Evercore ISI lowered their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Friday. Finally, Royal Bank of Canada raised their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $426.53.

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.