Stryker Co. (NYSE:SYK) Shares Sold by RiverFront Investment Group LLC

RiverFront Investment Group LLC cut its holdings in shares of Stryker Co. (NYSE:SYK) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 8,795 shares of the medical technology company’s stock after selling 49 shares during the period. RiverFront Investment Group LLC’s holdings in Stryker were worth $3,167,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Stryker during the 4th quarter valued at $1,710,744,000. Raymond James Financial Inc. acquired a new stake in shares of Stryker during the fourth quarter worth $353,394,000. Proficio Capital Partners LLC lifted its holdings in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after purchasing an additional 595,061 shares during the last quarter. RTW Investments LP acquired a new position in shares of Stryker in the 3rd quarter valued at $143,392,000. Finally, State Street Corp increased its stake in 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. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of NYSE:SYK opened at $364.38 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a market capitalization of $139.08 billion, a P/E ratio of 46.96, a P/E/G ratio of 2.93 and a beta of 0.95. The business has a 50-day moving average of $384.08 and a two-hundred day moving average of $374.25. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 quarter in the previous year, the company earned $3.46 earnings per share. On average, equities research analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Citigroup reissued a “buy” rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at approximately $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.