Sapient Capital LLC Has $1.79 Million Stock Position in Stryker Co. (NYSE:SYK)

Sapient Capital LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 4.2% in the first quarter, HoldingsChannel reports. The firm owned 4,988 shares of the medical technology company’s stock after selling 218 shares during the period. Sapient Capital LLC’s holdings in Stryker were worth $1,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SYK. Norges Bank acquired a new stake in shares of Stryker during the 4th quarter worth about $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker during the 1st quarter worth about $341,049,000. Magellan Asset Management Ltd increased its position in shares of Stryker by 74,911.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after purchasing an additional 679,450 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Stryker by 103.5% during the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after purchasing an additional 551,798 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 0.8 %

Shares of NYSE:SYK traded down $2.55 during mid-day trading on Tuesday, reaching $336.32. The stock had a trading volume of 2,480,477 shares, compared to its average volume of 1,301,242. The firm has a market cap of $127.96 billion, a PE ratio of 40.77, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The firm has a 50 day simple moving average of $348.44 and a two-hundred day simple moving average of $316.70. 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 Co. has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company posted $2.14 EPS. On average, research analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The company 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 $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio is 38.79%.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a report on Wednesday, January 31st. TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Citigroup increased their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Truist Financial increased their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada increased their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.67.

About Stryker

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.