Stryker Co. (NYSE:SYK) Stock Position Cut by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its position in Stryker Co. (NYSE:SYK - Free Report) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,048 shares of the medical technology company's stock after selling 4,275 shares during the period. Baird Financial Group Inc. owned approximately 0.09% of Stryker worth $118,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Stryker in the fourth quarter valued at approximately $1,710,744,000. Raymond James Financial Inc. acquired a new position in shares of Stryker in the 4th quarter valued at $353,394,000. FMR LLC boosted its holdings in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Proficio Capital Partners LLC grew its position in 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 buying an additional 595,061 shares during the period. Finally, Northern Trust Corp increased its holdings in Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Roth Mkm upped their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday. Truist Financial boosted their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday. Needham & Company LLC reissued a "buy" rating and set a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Finally, Canaccord Genuity Group boosted 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. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $427.05.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on 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. The trade was a 5.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Trading Down 0.3 %

Shares of NYSE SYK traded down $1.24 during mid-day trading on Friday, reaching $381.22. 391,110 shares of the company's stock were exchanged, compared to its average volume of 1,598,897. The firm has a market capitalization of $145.51 billion, a price-to-earnings ratio of 49.13, 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's 50-day moving average is $365.66 and its 200-day moving average is $374.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker's payout ratio is 45.41%.

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.