Stryker Co. (NYSE:SYK) Stake Cut by Tredje AP fonden

Tredje AP fonden cut its position in shares of Stryker Co. (NYSE:SYK) by 16.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,679 shares of the medical technology company’s stock after selling 17,983 shares during the period. Tredje AP fonden’s holdings in Stryker were worth $33,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC lifted its holdings in Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock worth $1,315,000 after purchasing an additional 26 shares during the last quarter. Mascoma Wealth Management LLC lifted its holdings in Stryker by 22.7% in the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock worth $53,000 after purchasing an additional 27 shares during the last quarter. Opal Wealth Advisors LLC lifted its holdings in Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after purchasing an additional 28 shares during the last quarter. Lindbrook Capital LLC increased its position in Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock worth $507,000 after buying an additional 28 shares during the period. Finally, Alhambra Investment Management LLC increased its position in Stryker by 1.5% in the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after buying an additional 29 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 value of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $363.52 on Thursday. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market capitalization of $138.71 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The stock has a 50 day moving average price of $382.76 and a 200 day moving average price of $373.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the company posted $3.46 earnings per share. Analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Analysts Set New Price Targets

Several brokerages have commented on SYK. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price target on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Five 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, Stryker has an average rating of “Moderate Buy” and a consensus target price 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.