Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Stryker Co. (NYSE:SYK)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Stryker Co. (NYSE:SYK) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,069 shares of the medical technology company’s stock after selling 7,322 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stryker were worth $52,952,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SYK. Parnassus Investments LLC bought a new stake in shares of Stryker in the third quarter worth about $762,798,000. Raymond James Financial Inc. bought a new stake in shares of Stryker in the fourth quarter worth about $353,394,000. Proficio Capital Partners LLC grew its stake in shares of Stryker by 52,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after purchasing an additional 595,061 shares during the last quarter. RTW Investments LP bought a new stake in shares of Stryker in the third quarter worth about $143,392,000. Finally, State Street Corp grew its stake in shares of Stryker by 2.2% in the third 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 during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Citigroup reaffirmed a “buy” rating and set a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. Barclays lifted their price objective on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Truist Financial lifted their price objective on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Price Performance

Shares of NYSE SYK opened at $369.16 on Tuesday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The firm has a market cap of $140.87 billion, a P/E ratio of 47.57, a PEG ratio of 2.93 and a beta of 0.95. The company has a 50 day moving average of $382.59 and a 200 day moving average of $373.31. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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 company posted $3.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business 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 dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. Stryker’s dividend payout ratio is presently 43.30%.

Insider Activity

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