KLP Kapitalforvaltning AS Invests $41.75 Million in Stryker Co. (NYSE:SYK)

KLP Kapitalforvaltning AS acquired a new position in Stryker Co. (NYSE:SYK) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 115,724 shares of the medical technology company’s stock, valued at approximately $41,749,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the period. FMR LLC boosted its holdings in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after buying an additional 165,490 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after buying an additional 48,819 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Stryker by 1.5% in the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after buying an additional 28,421 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction 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 owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.8 %

Shares of SYK stock opened at $371.38 on Friday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm’s fifty day simple moving average is $384.28 and its 200 day simple moving average is $373.93. The firm has a market capitalization of $141.71 billion, a P/E ratio of 47.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company earned $3.46 EPS. As a group, sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared 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 is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. Stryker’s dividend payout ratio is currently 43.30%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SYK shares. Stifel Nicolaus raised their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Truist Financial raised their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Stryker 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.