Skandinaviska Enskilda Banken AB publ Sells 3,223 Shares of Stryker Corporation $SYK

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 348,478 shares of the medical technology company’s stock after selling 3,223 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Stryker were worth $128,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Stryker by 0.8% in the third quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after purchasing an additional 272,828 shares during the last quarter. State Street Corp increased its holdings in shares of Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after buying an additional 150,204 shares during the period. Geode Capital Management LLC increased its holdings in shares of Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after buying an additional 79,654 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after acquiring an additional 4,223,366 shares during the last quarter. Finally, Norges Bank purchased a new stake in Stryker during the 2nd quarter valued at about $1,882,173,000. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BTIG Research boosted their price objective on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Evercore set a $390.00 target price on shares of Stryker in a research note on Monday, January 5th. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research report on Monday, January 26th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 target price on shares of Stryker in a report on Friday, November 14th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $426.94.

Stryker Stock Up 0.0%

Shares of NYSE SYK opened at $366.02 on Tuesday. The firm has a fifty day simple moving average of $358.26 and a two-hundred day simple moving average of $368.94. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $140.07 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the company earned $4.01 earnings per share. Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio is currently 41.90%.

Insider Buying and Selling

In other news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 5.20% of the company’s stock.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.