Rhenman & Partners Asset Management AB Reduces Position in Stryker Co. (NYSE:SYK)

Rhenman & Partners Asset Management AB reduced its position in Stryker Co. (NYSE:SYK) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,500 shares of the medical technology company’s stock after selling 500 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Stryker were worth $8,101,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the 4th quarter worth approximately $25,000. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter valued at $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the 4th quarter worth about $33,000. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related 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 completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’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 sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

Stryker Stock Down 6.0 %

Stryker stock opened at $346.14 on Friday. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a market cap of $132.12 billion, a PE ratio of 44.61, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business’s 50-day simple moving average is $381.69 and its two-hundred day simple moving average is $374.23.

Stryker (NYSE:SYK) last posted its quarterly 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 firm posted $3.46 earnings per share. Equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business 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 is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is currently 43.30%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SYK shares. Royal Bank of Canada boosted their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Truist Financial boosted their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Citigroup restated a “buy” rating and set a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Barclays raised their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

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.