Trexquant Investment LP Invests $14.84 Million in Stryker Co. (NYSE:SYK)

Trexquant Investment LP acquired a new stake in shares of Stryker Co. (NYSE:SYK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 41,205 shares of the medical technology company’s stock, valued at approximately $14,836,000.

A number of other hedge funds also recently bought and sold shares of SYK. Vanguard Group Inc. grew its position in shares of Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after purchasing an additional 252,188 shares in the last quarter. State Street Corp boosted its stake in Stryker by 2.2% during the third 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. Geode Capital Management LLC grew its holdings in Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after buying an additional 168,436 shares in the last quarter. Norges Bank purchased a new stake in Stryker in the 4th quarter valued at $1,710,744,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Stryker by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after acquiring an additional 48,819 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SYK. Canaccord Genuity Group upped their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Citigroup restated a “buy” rating and set a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Barclays raised their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated 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 directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Stryker Price Performance

Stryker stock opened at $373.20 on Wednesday. The company’s 50 day moving average is $383.41 and its two-hundred day moving average is $374.43. The firm has a market cap of $142.45 billion, a PE ratio of 48.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 last year, the firm earned $3.46 earnings per share. On average, research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s payout ratio is 43.30%.

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.