Stryker Co. (NYSE:SYK) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its stake in Stryker Co. (NYSE:SYK) by 49.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 249,881 shares of the medical technology company’s stock after selling 239,658 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of Stryker worth $89,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter valued at about $1,710,744,000. Raymond James Financial Inc. acquired a new position in Stryker in the 4th quarter valued at about $353,394,000. FMR LLC grew its stake in shares of Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after buying an additional 727,850 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after buying an additional 595,061 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Stryker by 1,695.0% during the 4th quarter. APG Asset Management N.V. now owns 370,226 shares of the medical technology company’s stock valued at $128,730,000 after buying an additional 349,601 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Allan C. Golston sold 2,458 shares of the firm’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 transaction of $941,586.06. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $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. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 0.1 %

SYK stock opened at $346.46 on Friday. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company’s 50 day moving average price is $371.83 and its 200 day moving average price is $373.11. 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 firm has a market capitalization of $132.24 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $3.46 earnings per share. On average, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 0.97%. Stryker’s dividend payout ratio is currently 43.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SYK shares. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada upped their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $423.53.

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.