Livforsakringsbolaget Skandia Omsesidigt Increases Position in Stryker Co. (NYSE:SYK)

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Stryker Co. (NYSE:SYK) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,979 shares of the medical technology company’s stock after purchasing an additional 322 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Stryker were worth $3,295,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SYK. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Quarry LP purchased a new position in shares of Stryker in the 1st quarter valued at $27,000. Freedom Wealth Alliance LLC acquired a new stake in Stryker during the 4th quarter valued at $26,000. HBC Financial Services PLLC acquired a new stake in Stryker during the 4th quarter valued at $37,000. Finally, Bourgeon Capital Management LLC acquired a new stake in Stryker during the 4th quarter valued at $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,109 shares of company stock worth $72,845,768. Company insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SYK. Truist Financial raised their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and lifted their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Evercore ISI boosted their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.22.

Stryker Stock Performance

Stryker stock traded down $1.63 on Wednesday, hitting $336.03. The company’s stock had a trading volume of 1,056,153 shares, compared to its average volume of 1,252,351. The firm has a market cap of $127.85 billion, a P/E ratio of 40.93, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $350.70 and a 200-day moving average price of $311.86. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker’s dividend payout ratio (DPR) is 38.79%.

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.