Stryker Co. (NYSE:SYK) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,536,666 shares of the medical technology company's stock after selling 29,268 shares during the period. Ameriprise Financial Inc. owned 0.40% of Stryker worth $555,183,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC raised its holdings in shares of Stryker by 14.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 92,715 shares of the medical technology company's stock worth $33,386,000 after acquiring an additional 11,967 shares during the last quarter. Aspire Growth Partners LLC purchased a new stake in shares of Stryker during the fourth quarter worth $208,000. AXA S.A. increased its holdings in Stryker by 12.0% during the 4th quarter. AXA S.A. now owns 128,242 shares of the medical technology company's stock worth $46,174,000 after acquiring an additional 13,775 shares during the period. AlTi Global Inc. lifted its holdings in shares of Stryker by 7.0% during the 4th quarter. AlTi Global Inc. now owns 1,538 shares of the medical technology company's stock worth $558,000 after acquiring an additional 101 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in shares of Stryker by 2.0% in the 4th quarter. Alaethes Wealth LLC now owns 4,538 shares of the medical technology company's stock worth $1,638,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SYK shares. Evercore ISI reduced their price target on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Royal Bank of Canada upped their price objective on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Truist Financial upped their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $427.05.

Stryker Stock Down 0.4 %

Shares of SYK traded down $1.59 during midday trading on Friday, reaching $380.87. 758,784 shares of the stock were exchanged, compared to its average volume of 1,354,321. The company has a market capitalization of $145.37 billion, a P/E ratio of 49.08, a PEG ratio of 2.93 and a beta of 0.93. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company's 50 day moving average is $365.66 and its two-hundred day moving average is $374.20.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company earned $2.50 earnings per share. The company's quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 45.41%.

Stryker Company 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.