Citigroup Inc. Sells 28,261 Shares of Stryker Co. (NYSE:SYK)

Citigroup Inc. lessened its holdings in Stryker Co. (NYSE:SYKFree Report) by 11.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 209,697 shares of the medical technology company’s stock after selling 28,261 shares during the quarter. Citigroup Inc. owned 0.06% of Stryker worth $57,304,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SYK. BlackRock Inc. grew its position in Stryker by 4.8% during the 2nd quarter. BlackRock Inc. now owns 25,862,485 shares of the medical technology company’s stock worth $7,890,386,000 after purchasing an additional 1,188,957 shares during the last quarter. State Street Corp grew its holdings in shares of Stryker by 2.4% during the second quarter. State Street Corp now owns 14,393,817 shares of the medical technology company’s stock valued at $4,402,083,000 after buying an additional 340,114 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Stryker by 3.0% during the second quarter. Geode Capital Management LLC now owns 6,135,106 shares of the medical technology company’s stock valued at $1,865,989,000 after buying an additional 181,068 shares during the last quarter. Morgan Stanley raised its stake in Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after acquiring an additional 1,066,751 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Stryker by 0.5% during the 2nd quarter. Franklin Resources Inc. now owns 4,656,405 shares of the medical technology company’s stock worth $1,420,623,000 after acquiring an additional 25,131 shares during the period. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Roth Mkm increased their price objective on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Truist Financial lifted 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. Morgan Stanley increased their price objective on shares of Stryker from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, December 4th. Finally, Wells Fargo & Company boosted their target price on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $331.52.

Read Our Latest Stock Report on Stryker

Insider Activity at Stryker

In other Stryker news, Director Srikant M. Datar sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total transaction of $215,677.50. Following the completion of the sale, the director now directly owns 5,316 shares in the company, valued at approximately $1,528,722.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Stryker news, Director Srikant M. Datar sold 750 shares of Stryker stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total transaction of $215,677.50. Following the sale, the director now owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Srikant M. Datar sold 500 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $291.92, for a total transaction of $145,960.00. Following the sale, the director now directly owns 4,316 shares of the company’s stock, valued at approximately $1,259,926.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,725 shares of company stock valued at $86,880,191. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 0.9 %

Shares of SYK opened at $341.96 on Friday. The firm has a market cap of $129.92 billion, a P/E ratio of 41.45, a PEG ratio of 2.78 and a beta of 0.90. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $346.59. The stock’s 50 day moving average is $307.59 and its two-hundred day moving average is $289.39. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 EPS. Analysts predict that Stryker Co. will post 11.87 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Stryker Profile

(Free Report)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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