Swedbank AB Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Swedbank AB raised its holdings in Stryker Co. (NYSE:SYK) by 119.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,241 shares of the medical technology company’s stock after purchasing an additional 61,171 shares during the quarter. Swedbank AB’s holdings in Stryker were worth $40,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SYK. Dunhill Financial LLC grew its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Centennial Bank AR grew its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC purchased a new position in Stryker in the third quarter valued at approximately $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 1.1 %

SYK stock opened at $390.98 on Thursday. The company’s 50 day moving average is $376.44 and its 200 day moving average is $361.98. The stock has a market cap of $149.05 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1-year low of $314.05 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period last year, the business posted $3.46 EPS. Sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group upped their price target on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $413.45.

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.