Corebridge Financial Inc. Increases Holdings in Stryker Co. (NYSE:SYK)

Corebridge Financial Inc. raised its stake in Stryker Co. (NYSE:SYK) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,700 shares of the medical technology company’s stock after buying an additional 3,406 shares during the quarter. Corebridge Financial Inc.’s holdings in Stryker were worth $36,257,000 at the end of the most recent quarter.

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

Stryker Stock Performance

Shares of SYK opened at $371.38 on Monday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The stock has a market capitalization of $141.71 billion, a PE ratio of 47.86, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a 50-day simple moving average of $384.28 and a 200-day simple moving average of $374.12.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the company earned $3.46 earnings per share. On average, analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Analyst Ratings Changes

SYK has been the subject of a number of research analyst reports. Argus set a $450.00 price target on Stryker in a report on Monday, February 3rd. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Citigroup reissued a “buy” rating and issued a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

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.