IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Position in Stryker Corporation $SYK

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Stryker Corporation (NYSE:SYK) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,494 shares of the medical technology company’s stock after acquiring an additional 1,460 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Stryker were worth $7,576,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Stryker during the 2nd quarter worth approximately $1,882,173,000. Alliancebernstein L.P. grew its holdings in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares during the period. Corient Private Wealth LLC raised its position in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. acquired a new stake in Stryker in the second quarter valued at $191,047,000. Finally, Vanguard Group Inc. grew its stake in shares of Stryker by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after purchasing an additional 440,607 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SYK shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Wells Fargo & Company increased their target price on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Barclays restated an “overweight” rating and issued a $469.00 price target on shares of Stryker in a report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.56.

Stryker Trading Up 0.5%

Shares of SYK opened at $362.63 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The stock has a market cap of $138.68 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 2.11 and a beta of 0.87. The firm has a 50 day simple moving average of $358.65 and a 200-day simple moving average of $371.05.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.01 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s payout ratio is presently 41.90%.

Insider Transactions at Stryker

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is currently owned by corporate insiders.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.