Handelsbanken Fonder AB Buys 56,465 Shares of Stryker Co. (NYSE:SYK)

Handelsbanken Fonder AB boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 29.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,512 shares of the medical technology company’s stock after purchasing an additional 56,465 shares during the period. Handelsbanken Fonder AB’s holdings in Stryker were worth $89,837,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SYK. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker during the 3rd quarter worth $36,000. Activest Wealth Management bought a new position in shares of Stryker during the 4th quarter valued at about $36,000. Crews Bank & Trust acquired a new position in shares of Stryker in the fourth quarter valued at approximately $39,000. Finally, Hara Capital LLC bought a new position in Stryker during the 3rd quarter worth about $42,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 0.7 %

Shares of NYSE SYK opened at $388.30 on Thursday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $148.17 billion, a PE ratio of 50.04, a P/E/G ratio of 2.90 and a beta of 0.96. The company has a 50-day moving average of $377.69 and a 200 day moving average of $368.08.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $3.46 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was 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. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SYK shares. The Goldman Sachs Group raised their price target on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Stifel Nicolaus boosted their price target on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $420.68.

Stryker Company Profile

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.