OVERSEA CHINESE BANKING Corp Ltd Invests $202,000 in Stryker Co. (NYSE:SYK)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 561 shares of the medical technology company’s stock, valued at approximately $202,000.

Several other large investors also recently made changes to their positions in the business. Xponance Inc. increased its position in shares of Stryker by 4.2% in the fourth quarter. Xponance Inc. now owns 59,409 shares of the medical technology company’s stock worth $21,390,000 after acquiring an additional 2,417 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Stryker in the fourth quarter worth $3,384,000. Horizon Investments LLC boosted its stake in shares of Stryker by 2.4% in the fourth quarter. Horizon Investments LLC now owns 7,752 shares of the medical technology company’s stock valued at $2,791,000 after purchasing an additional 181 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Stryker by 3.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 96,868 shares of the medical technology company’s stock valued at $34,983,000 after purchasing an additional 3,629 shares during the period. Finally, PDS Planning Inc boosted its stake in shares of Stryker by 9.8% in the fourth quarter. PDS Planning Inc now owns 1,562 shares of the medical technology company’s stock valued at $562,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SYK shares. Wells Fargo & Company upped their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada upped their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Truist Financial upped their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, Argus set a $450.00 target price on shares of Stryker in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Stryker Trading Down 1.2 %

Stryker stock opened at $373.69 on Friday. The firm’s 50-day moving average is $384.18 and its 200-day moving average is $373.85. 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 Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market cap of $142.59 billion, a P/E ratio of 48.16, a PEG ratio of 2.93 and a beta of 0.95.

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 period in the prior year, the company posted $3.46 EPS. On average, equities analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling

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

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.