UniSuper Management Pty Ltd Boosts Position in Stryker Corporation $SYK

UniSuper Management Pty Ltd raised its position in Stryker Corporation (NYSE:SYK) by 39.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,505 shares of the medical technology company’s stock after purchasing an additional 8,604 shares during the period. UniSuper Management Pty Ltd’s holdings in Stryker were worth $11,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Stryker in the 2nd quarter valued at about $26,000. Clayton Financial Group LLC purchased a new stake in shares of Stryker in the third quarter valued at about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Stryker in the second quarter valued at approximately $28,000. Sachetta LLC grew its position in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Finally, Kilter Group LLC purchased a new position in shares of Stryker during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $354.74 on Friday. The firm has a fifty day moving average of $359.77 and a 200-day moving average of $372.81. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $135.66 billion, a P/E ratio of 46.62, a PEG ratio of 2.27 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the company earned $2.87 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is 46.25%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYK. Citigroup reduced their target price on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a research report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Truist Financial lowered their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Finally, UBS Group set a $408.00 target price on Stryker in a research report on Monday, October 13th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $430.00.

Insider Buying and Selling

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 522,118 shares of company stock valued at $185,381,932. Corporate insiders own 5.90% 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.