Payden & Rygel Sells 3,600 Shares of Stryker Co. (NYSE:SYK)

Payden & Rygel lowered its holdings in Stryker Co. (NYSE:SYK) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,100 shares of the medical technology company’s stock after selling 3,600 shares during the period. Stryker comprises about 1.5% of Payden & Rygel’s portfolio, making the stock its 24th largest holding. Payden & Rygel’s holdings in Stryker were worth $17,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $25,000. Dunhill Financial LLC increased its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new position in shares of Stryker in the fourth quarter valued at $33,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Wells Fargo & Company lifted their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Insider Activity at Stryker

In other news, 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 owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.

Stryker Stock Down 6.0 %

Shares of SYK opened at $346.14 on Friday. 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 Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm’s 50 day moving average is $381.69 and its 200-day moving average is $374.23. The stock has a market capitalization of $132.12 billion, a PE ratio of 44.61, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm posted $3.46 EPS. Equities research analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is 43.30%.

Stryker 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.