Two Sigma Investments LP Lowers Stake in Stryker Co. (NYSE:SYK)

Two Sigma Investments LP lessened its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,667 shares of the medical technology company's stock after selling 56,668 shares during the quarter. Two Sigma Investments LP's holdings in Stryker were worth $48,847,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker during the 4th quarter valued at about $25,000. Rakuten Securities Inc. boosted its holdings in shares of 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 buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Stryker in the fourth quarter worth approximately $30,000. BankPlus Trust Department purchased a new position in shares of Stryker in the fourth quarter worth approximately $33,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Stryker in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Price Performance

SYK traded down $1.42 during trading hours on Thursday, hitting $378.33. The company's stock had a trading volume of 1,048,983 shares, compared to its average volume of 1,345,393. The business's 50-day moving average price is $367.95 and its 200-day moving average price is $375.92. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a market cap of $144.40 billion, a price-to-earnings ratio of 48.75, a P/E/G ratio of 2.93 and a beta of 0.93. 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 - Get Free Report) last announced 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 net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 45.41%.

Insider Buying and Selling at Stryker

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 transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Citigroup raised their target price on shares of Stryker from $443.00 to $455.00 and gave the stock a "buy" rating in a research note on Thursday. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group raised their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $427.30.

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.