Stryker Co. (NYSE:SYK) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in Stryker Co. (NYSE:SYK) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,108 shares of the medical technology company’s stock after selling 9,491 shares during the period. Truist Financial Corp’s holdings in Stryker were worth $41,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Chicago Capital LLC increased its position in shares of Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after acquiring an additional 5,841 shares during the period. Zhang Financial LLC grew its position in Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares during the period. Appleton Partners Inc. MA grew its position in Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after purchasing an additional 1,400 shares during the period. Dale Q Rice Investment Management Ltd acquired a new stake in Stryker during the 4th quarter worth about $587,000. Finally, Berkshire Bank grew its position in Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after purchasing an additional 1,030 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SYK shares. Truist Financial increased their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus raised their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Stryker Trading Up 0.1 %

Shares of Stryker stock opened at $385.44 on Wednesday. The firm has a market capitalization of $146.94 billion, a PE ratio of 49.67, a P/E/G ratio of 2.98 and a beta of 0.96. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The firm’s 50-day moving average price is $377.39 and its 200 day moving average price is $367.56. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the business posted $3.46 EPS. On average, sell-side analysts predict that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

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.