Livforsakringsbolaget Skandia Omsesidigt Sells 2,600 Shares of Stryker Co. (NYSE:SYK)

Livforsakringsbolaget Skandia Omsesidigt reduced its position in Stryker Co. (NYSE:SYK) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,875 shares of the medical technology company’s stock after selling 2,600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Stryker were worth $4,645,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SYK. Dynamic Advisor Solutions LLC boosted its holdings in Stryker by 2.3% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 2,990 shares of the medical technology company’s stock worth $1,080,000 after buying an additional 67 shares during the period. Atomi Financial Group Inc. raised its position in Stryker by 2.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 2,091 shares of the medical technology company’s stock worth $755,000 after purchasing an additional 47 shares during the period. Abner Herrman & Brock LLC raised its position in Stryker by 0.3% in the 3rd quarter. Abner Herrman & Brock LLC now owns 31,405 shares of the medical technology company’s stock worth $11,345,000 after purchasing an additional 106 shares during the period. Wedmont Private Capital increased its position in shares of Stryker by 3.9% during the third quarter. Wedmont Private Capital now owns 3,414 shares of the medical technology company’s stock worth $1,178,000 after acquiring an additional 127 shares during the period. Finally, Steigerwald Gordon & Koch Inc. increased its position in shares of Stryker by 1.6% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 70,235 shares of the medical technology company’s stock worth $25,373,000 after acquiring an additional 1,115 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Stryker stock opened at $396.24 on Friday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a 50 day moving average price of $377.08 and a 200 day moving average price of $364.24. The company has a market cap of $151.06 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 2.78 and a beta of 0.96. 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 earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the business earned $3.46 earnings per share. Sell-side analysts predict that Stryker Co. will post 13.5 earnings per share for the current year.

Stryker Announces Dividend

The firm 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 of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker’s dividend payout ratio is currently 43.30%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYK shares. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Wells Fargo & Company boosted their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

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.