Wellington Management Group LLP Sells 1,716,746 Shares of Stryker Co. (NYSE:SYK)

Wellington Management Group LLP reduced its stake in Stryker Co. (NYSE:SYK) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,377,750 shares of the medical technology company’s stock after selling 1,716,746 shares during the period. Wellington Management Group LLP’s holdings in Stryker were worth $3,016,409,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker during the 4th quarter valued at about $25,000. Dunhill Financial LLC grew its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Rakuten Securities Inc. increased its holdings 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 acquiring an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new stake in Stryker in the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker in the 4th quarter valued at $33,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Down 0.9 %

SYK opened at $364.38 on Monday. The stock has a market cap of $139.08 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm’s fifty day moving average is $384.08 and its 200 day moving average is $374.37. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results 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 return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the firm posted $3.46 EPS. On average, sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Wells Fargo & Company raised their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Stifel Nicolaus lifted their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $421.90.

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 completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the company’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 sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.