OVERSEA CHINESE BANKING Corp Ltd Invests $202,000 in Stryker Co. (NYSE:SYK)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Stryker Co. (NYSE:SYK) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 561 shares of the medical technology company’s stock, valued at approximately $202,000.

Several other hedge funds also recently made changes to their positions in SYK. GSA Capital Partners LLP acquired a new position in shares of Stryker in the 3rd quarter worth approximately $362,000. Prospera Private Wealth LLC acquired a new position in shares of Stryker in the third quarter worth about $124,000. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the third quarter worth about $36,000. Moran Wealth Management LLC boosted its holdings in shares of Stryker by 0.4% in the third quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after buying an additional 34 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Stryker by 9.9% in the third quarter. Citizens Financial Group Inc. RI now owns 55,673 shares of the medical technology company’s stock worth $20,113,000 after buying an additional 5,033 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Trading Down 1.2 %

NYSE:SYK opened at $373.69 on Friday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market cap of $142.59 billion, a price-to-earnings ratio of 48.16, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $384.18 and its 200-day moving average is $373.85.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the business earned $3.46 EPS. Equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group raised their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $421.90.

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.