Rosenbaum Jay D. Sells 2,362 Shares of Stryker Co. (NYSE:SYK)

Rosenbaum Jay D. cut its holdings in Stryker Co. (NYSE:SYK - Free Report) by 50.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,283 shares of the medical technology company's stock after selling 2,362 shares during the period. Stryker makes up 1.8% of Rosenbaum Jay D.'s investment portfolio, making the stock its 15th biggest holding. Rosenbaum Jay D.'s holdings in Stryker were worth $684,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Banco de Sabadell S.A boosted its holdings in Stryker by 4.2% during the fourth quarter. Banco de Sabadell S.A now owns 6,426 shares of the medical technology company's stock valued at $1,923,000 after acquiring an additional 259 shares during the period. Frazier Financial Advisors LLC acquired a new position in Stryker in the fourth quarter worth about $147,000. Sand Hill Global Advisors LLC raised its position in Stryker by 1.0% in the fourth quarter. Sand Hill Global Advisors LLC now owns 26,495 shares of the medical technology company's stock worth $7,934,000 after purchasing an additional 251 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Stryker by 2.5% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 1,620,299 shares of the medical technology company's stock worth $485,215,000 after buying an additional 39,497 shares in the last quarter. Finally, King Luther Capital Management Corp increased its holdings in shares of Stryker by 0.5% during the fourth quarter. King Luther Capital Management Corp now owns 392,568 shares of the medical technology company's stock worth $117,558,000 after buying an additional 1,961 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYK. Roth Mkm increased their price target on shares of Stryker from $348.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. Truist Financial raised their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a "hold" rating in a research note on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a "hold" rating to a "buy" rating and set a $360.00 price objective on the stock in a research note on Wednesday, January 31st. Piper Sandler boosted their price target on shares of Stryker from $375.00 to $380.00 and gave the company an "overweight" rating in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group raised shares of Stryker from a "hold" rating to a "buy" rating and boosted their price objective for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $367.32.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is currently owned by corporate insiders.

Stryker Trading Up 1.5 %

Shares of SYK stock traded up $4.91 during trading hours on Wednesday, hitting $335.42. 1,515,387 shares of the company's stock traded hands, compared to its average volume of 1,336,249. The stock's 50 day simple moving average is $341.13 and its 200 day simple moving average is $323.29. The stock has a market cap of $127.78 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 earnings per share. On average, sell-side analysts anticipate that Stryker Co. will post 11.94 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, June 28th. Stryker's dividend payout ratio (DPR) is presently 36.53%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.