Legato Capital Management LLC Decreases Position in Stryker Co. (NYSE:SYK)

Legato Capital Management LLC reduced its stake in Stryker Co. (NYSE:SYK) by 44.2% during the 4th quarter, Holdings Channel reports. The fund owned 8,664 shares of the medical technology company’s stock after selling 6,873 shares during the quarter. Legato Capital Management LLC’s holdings in Stryker were worth $3,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its holdings in 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 buying an additional 316,404 shares during the last quarter. FMR LLC raised its holdings in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Parnassus Investments LLC purchased a new position in shares of Stryker in the 3rd quarter valued at $762,798,000. Finally, Janus Henderson Group PLC raised its stake in Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after acquiring an additional 28,421 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE:SYK opened at $390.52 on Wednesday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market capitalization of $148.88 billion, a price-to-earnings ratio of 50.33, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The business’s 50 day simple moving average is $377.27 and its 200-day simple moving average is $366.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company earned $3.46 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the company’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 value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BTIG Research raised their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Truist Financial increased their price objective on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Barclays upped their price target on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $420.68.

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.