Primecap Management Co. CA Sells 11,400 Shares of Stryker Co. (NYSE:SYK)

Primecap Management Co. CA cut its stake in shares of Stryker Co. (NYSE:SYK) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 436,100 shares of the medical technology company’s stock after selling 11,400 shares during the quarter. Primecap Management Co. CA owned 0.11% of Stryker worth $157,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker during the fourth quarter worth $25,000. Dunhill Financial LLC grew its position in 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 acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. increased 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 worth $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Stryker in the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department acquired a new stake in shares of Stryker during the fourth quarter valued at about $33,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.7 %

NYSE:SYK opened at $376.13 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $383.71 and a two-hundred day simple moving average of $373.82. The stock has a market capitalization of $143.52 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 quarter last year, the firm posted $3.46 earnings per share. Analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal 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 given a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 43.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price target on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Barclays boosted their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Finally, Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Five equities research 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 stock has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

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.