Tredje AP fonden Buys 20,857 Shares of Stryker Co. (NYSE:SYK)

Tredje AP fonden boosted its stake in shares of Stryker Co. (NYSE:SYK) by 23.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,662 shares of the medical technology company’s stock after buying an additional 20,857 shares during the quarter. Tredje AP fonden’s holdings in Stryker were worth $36,972,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Assets Advisory LLC purchased a new position in shares of Stryker in the 1st quarter valued at approximately $341,049,000. JPMorgan Chase & Co. increased its stake in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. BTIG Research upped their target price on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley increased their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Trading Down 2.1 %

Shares of SYK stock opened at $364.00 on Wednesday. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The company has a market cap of $138.71 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $343.60 and a 200-day simple moving average of $342.61.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm posted $2.54 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. Stryker’s payout ratio is currently 36.53%.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

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.