Jennison Associates LLC Has $62.33 Million Stock Position in Stryker Co. (NYSE:SYK)

Jennison Associates LLC decreased its stake in shares of Stryker Co. (NYSE:SYK) by 36.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,137 shares of the medical technology company’s stock after selling 119,061 shares during the period. Jennison Associates LLC’s holdings in Stryker were worth $62,329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares in the last quarter. HBC Financial Services PLLC acquired a new position in Stryker during the 4th quarter worth about $37,000. Bourgeon Capital Management LLC acquired a new position in Stryker during the 4th quarter worth about $37,000. Venturi Wealth Management LLC lifted its position in Stryker by 97.1% during the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock worth $41,000 after buying an additional 67 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in Stryker by 40.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 140 shares of the medical technology company’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 2.2 %

NYSE SYK opened at $334.89 on Wednesday. The company has a market cap of $127.42 billion, a PE ratio of 40.59, a PEG ratio of 2.64 and a beta of 0.89. 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 12 month low of $249.98 and a 12 month high of $361.41. The stock has a 50 day moving average of $349.64 and a 200-day moving average of $314.08.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter last year, the firm posted $3.00 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio is currently 38.79%.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The stock was 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 of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on SYK shares. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Citigroup upped their target price on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Roth Mkm upped their target price on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada upped their target price on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Truist Financial upped their target price on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $340.67.

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.