Trexquant Investment LP Invests $14.84 Million in Stryker Co. (NYSE:SYK)

Trexquant Investment LP acquired a new stake in Stryker Co. (NYSE:SYK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,205 shares of the medical technology company’s stock, valued at approximately $14,836,000.

A number of other hedge funds also recently added to or reduced their stakes in SYK. Norges Bank bought a new position in shares of Stryker during the fourth quarter valued at approximately $1,710,744,000. Raymond James Financial Inc. bought a new stake in Stryker during the 4th quarter valued at $353,394,000. Proficio Capital Partners LLC increased its holdings in shares of Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. RTW Investments LP bought a new position in shares of Stryker in the 3rd quarter worth $143,392,000. Finally, State Street Corp lifted its stake in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on SYK. Wells Fargo & Company boosted their target price on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Barclays increased their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Finally, Citigroup reiterated a “buy” rating and issued a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Stock Up 0.3 %

Stryker stock opened at $373.20 on Wednesday. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a market cap of $142.45 billion, a price-to-earnings ratio of 48.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The business’s 50-day moving average price is $383.41 and its 200 day moving average price is $374.43. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company posted $3.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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