Andra AP fonden Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Andra AP fonden increased its position in Stryker Co. (NYSE:SYK) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,322 shares of the medical technology company’s stock after purchasing an additional 3,000 shares during the period. Andra AP fonden’s holdings in Stryker were worth $9,296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth $1,260,562,000. Global Assets Advisory LLC purchased a new stake in shares of Stryker in the first quarter worth $341,049,000. JPMorgan Chase & Co. lifted its holdings in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC upped their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $380.00 target price on shares of Stryker in a research report on Tuesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. UBS Group increased their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Wolfe Research assumed coverage on Stryker in a report on Tuesday. They set an “outperform” rating and a $405.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Price Performance

SYK opened at $365.10 on Wednesday. The business has a fifty day moving average of $340.21 and a 200 day moving average of $342.04. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $365.96. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $139.13 billion, a P/E ratio of 41.68, a PEG ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business earned $2.54 EPS. Stryker’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is currently owned by company insiders.

About Stryker

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.