Stryker Co. (NYSE:SYK) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its position in Stryker Co. (NYSE:SYK) by 49.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 249,881 shares of the medical technology company’s stock after selling 239,658 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Stryker were worth $89,970,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker during the 4th quarter worth approximately $25,000. Rakuten Securities Inc. raised its position in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Stryker during the 4th quarter worth $30,000. BankPlus Trust Department acquired a new position in shares of Stryker during the 4th quarter worth $33,000. Finally, Activest Wealth Management purchased a new stake in Stryker during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. Barclays lifted 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. Citigroup restated a “buy” rating and issued a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a “buy” rating in a research report on Monday. Finally, Argus set a $450.00 target price on Stryker in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $423.53.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on 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 directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction 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 owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Down 0.1 %

Shares of NYSE SYK opened at $346.46 on Friday. The firm has a fifty day moving average of $371.83 and a 200-day moving average of $373.11. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $132.24 billion, a PE ratio of 44.65, a P/E/G ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last issued 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 posted $3.46 earnings per share. On average, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is 43.30%.

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.