Handelsbanken Fonder AB Cuts Stake in Stryker Corporation $SYK

Handelsbanken Fonder AB lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,054 shares of the medical technology company’s stock after selling 3,388 shares during the period. Handelsbanken Fonder AB owned approximately 0.07% of Stryker worth $104,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Terra Alpha Investments LLC acquired a new position in Stryker during the 3rd quarter valued at approximately $1,216,000. Diversified Trust Co grew its holdings in shares of Stryker by 45.6% during the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after buying an additional 3,899 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Stryker during the second quarter valued at $4,785,000. AXQ Capital LP acquired a new position in shares of Stryker in the 2nd quarter valued at $567,000. Finally, National Pension Service raised its stake in Stryker by 2.4% in the 3rd quarter. National Pension Service now owns 683,867 shares of the medical technology company’s stock worth $252,805,000 after acquiring an additional 16,254 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a report on Friday, January 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Sanford C. Bernstein upped their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $426.47.

Stryker Stock Performance

SYK opened at $386.04 on Friday. The firm has a fifty day moving average price of $362.53 and a 200 day moving average price of $369.14. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The stock has a market cap of $147.73 billion, a P/E ratio of 45.96, a P/E/G ratio of 2.24 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 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 analyst estimates of $7.12 billion. During the same quarter last year, the business earned $4.01 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

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.