Ninety One UK Ltd Sells 15,289 Shares of Stryker Co. (NYSE:SYK)

Ninety One UK Ltd reduced its position in shares of Stryker Co. (NYSE:SYK) by 16.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 76,702 shares of the medical technology company’s stock after selling 15,289 shares during the quarter. Ninety One UK Ltd’s holdings in Stryker were worth $22,969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Norges Bank bought a new position in shares of Stryker during the 4th quarter valued at approximately $776,333,000. Moneta Group Investment Advisors LLC raised its holdings in Stryker by 109,726.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,139,948 shares of the medical technology company’s stock valued at $767,686,000 after buying an additional 3,137,089 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in Stryker by 87,902.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after buying an additional 2,075,371 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Stryker during the 4th quarter valued at $312,539,000. Finally, Morgan Stanley raised its holdings in Stryker by 21.7% during the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock valued at $1,461,753,000 after buying an additional 1,066,751 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of NYSE SYK opened at $327.46 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market cap of $124.59 billion, a PE ratio of 39.69, a P/E/G ratio of 2.71 and a beta of 0.89. The business has a 50-day simple moving average of $350.34 and a two-hundred day simple moving average of $312.14. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the company posted $3.00 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts expect that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Citigroup increased their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Roth Mkm increased their target price on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research note on Wednesday, January 31st. Finally, Truist Financial increased their target price on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $340.45.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is owned by corporate insiders.

About Stryker

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.