Corebridge Financial Inc. Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Corebridge Financial Inc. increased its holdings in Stryker Co. (NYSE:SYK) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,700 shares of the medical technology company’s stock after acquiring an additional 3,406 shares during the quarter. Corebridge Financial Inc.’s holdings in Stryker were worth $36,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Congress Wealth Management LLC DE increased its position in Stryker by 2.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 51,589 shares of the medical technology company’s stock valued at $18,575,000 after acquiring an additional 1,417 shares during the period. Crowley Wealth Management Inc. acquired a new position in shares of Stryker in the fourth quarter valued at approximately $2,566,000. FCA Corp TX raised its stake in shares of Stryker by 0.5% during the fourth quarter. FCA Corp TX now owns 14,069 shares of the medical technology company’s stock worth $5,065,000 after purchasing an additional 75 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the period. Finally, Haverford Financial Services Inc. grew its position in Stryker by 0.3% in the 4th quarter. Haverford Financial Services Inc. now owns 18,290 shares of the medical technology company’s stock valued at $6,585,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated 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 directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % 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 Stock Performance

Shares of SYK opened at $371.38 on Monday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The stock has a market cap of $141.71 billion, a P/E ratio of 47.86, a PEG ratio of 2.93 and a beta of 0.95. 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 company has a 50-day moving average of $384.28 and a two-hundred day moving average of $374.12.

Stryker (NYSE:SYK) last issued 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 return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the company posted $3.46 earnings per share. As a group, research analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Stryker’s dividend payout ratio is currently 43.30%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Barclays boosted their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $421.90.

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.