HealthInvest Partners AB Grows Position in Stryker Co. (NYSE:SYK)

HealthInvest Partners AB increased its stake in Stryker Co. (NYSE:SYK) by 9.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,660 shares of the medical technology company’s stock after buying an additional 2,200 shares during the quarter. Stryker accounts for approximately 4.3% of HealthInvest Partners AB’s portfolio, making the stock its 7th largest holding. HealthInvest Partners AB’s holdings in Stryker were worth $9,296,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes 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 acquiring an additional 316,404 shares during the period. FMR LLC boosted its stake in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the period. Geode Capital Management LLC grew its holdings in Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker during the third quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC lifted 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 in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYK. Royal Bank of Canada upped their price target on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Stock Down 1.0 %

SYK opened at $382.59 on Monday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $378.07 and its 200-day moving average price is $369.34. The company has a market cap of $145.99 billion, a P/E ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 EPS. On average, equities analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s payout ratio is currently 43.30%.

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.