Tredje AP fonden Reduces Position in Stryker Corporation $SYK

Tredje AP fonden decreased its holdings in shares of Stryker Corporation (NYSE:SYK) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,700 shares of the medical technology company’s stock after selling 10,300 shares during the period. Tredje AP fonden’s holdings in Stryker were worth $36,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Raiffeisen Bank International AG grew its holdings in Stryker by 2.8% during the third quarter. Raiffeisen Bank International AG now owns 88,280 shares of the medical technology company’s stock valued at $32,653,000 after purchasing an additional 2,388 shares during the period. Bridgewater Advisors Inc. lifted its position in shares of Stryker by 4.4% during the 3rd quarter. Bridgewater Advisors Inc. now owns 1,944 shares of the medical technology company’s stock valued at $719,000 after buying an additional 82 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Stryker during the 3rd quarter valued at about $741,000. Marshall & Sterling Wealth Advisors Inc. grew its stake in shares of Stryker by 25.5% during the 3rd quarter. Marshall & Sterling Wealth Advisors Inc. now owns 639 shares of the medical technology company’s stock valued at $230,000 after acquiring an additional 130 shares during the period. Finally, Fiera Capital Corp increased its holdings in Stryker by 24.5% in the 3rd quarter. Fiera Capital Corp now owns 28,828 shares of the medical technology company’s stock worth $10,657,000 after acquiring an additional 5,667 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays reaffirmed an “overweight” rating and set a $469.00 price target on shares of Stryker in a report on Monday, February 2nd. Wells Fargo & Company raised their price objective on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Evercore set a $390.00 price target on Stryker in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $426.94.

Stryker Stock Performance

NYSE SYK opened at $380.15 on Friday. The stock has a market capitalization of $145.48 billion, a PE ratio of 45.26, a P/E/G ratio of 2.18 and a beta of 0.87. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The business has a 50 day simple moving average of $360.05 and a two-hundred day simple moving average of $368.95. 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 posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the company earned $4.01 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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 issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s 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 sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

About Stryker

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.