Stryker Co. (NYSE:SYK) Shares Bought by Tredje AP fonden

Tredje AP fonden increased its stake in Stryker Co. (NYSE:SYK) by 23.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,662 shares of the medical technology company’s stock after acquiring an additional 20,857 shares during the period. Tredje AP fonden’s holdings in Stryker were worth $36,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Koshinski Asset Management Inc. acquired a new position in shares of Stryker during the first quarter worth about $795,000. Envestnet Portfolio Solutions Inc. grew its holdings in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after acquiring an additional 5,565 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Stryker in the 1st quarter valued at approximately $4,027,000. International Assets Investment Management LLC acquired a new stake in shares of Stryker in the 1st quarter valued at $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now 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 in the last three months. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Down 2.1 %

NYSE:SYK opened at $364.00 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $343.60 and its 200-day simple moving average is $342.61. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The firm has a market cap of $138.71 billion, a P/E ratio of 41.55, a PEG ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping 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 company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the business earned $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Analyst Ratings Changes

A number of research firms have weighed in on SYK. Evercore ISI cut their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Truist Financial dropped their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BTIG Research lifted their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Morgan Stanley upped their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. 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 data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

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.