Forsta AP Fonden Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Forsta AP Fonden boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 92,253 shares of the medical technology company’s stock after acquiring an additional 300 shares during the quarter. Forsta AP Fonden’s holdings in Stryker were worth $33,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dunhill Financial LLC increased its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR raised its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Stryker in the third quarter worth about $36,000. Hara Capital LLC bought a new stake in Stryker during the 3rd quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter worth approximately $42,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several research reports. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $412.55.

Insider Buying and Selling

In related 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 transaction, 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 filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by insiders.

Stryker Price Performance

NYSE SYK opened at $394.92 on Wednesday. The stock has a market capitalization of $150.55 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.68 and a beta of 0.95. Stryker Co. has a 1-year low of $310.74 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business’s fifty day moving average price is $376.44 and its 200-day moving average price is $361.98.

Stryker (NYSE:SYK) last posted its earnings results 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 23.07% and a net margin of 16.34%. During the same period in the prior year, the business earned $3.46 EPS. On average, equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

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.