Zurcher Kantonalbank Zurich Cantonalbank Buys 2,613 Shares of Stryker Corporation $SYK

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Stryker Corporation (NYSE:SYK) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,756 shares of the medical technology company’s stock after purchasing an additional 2,613 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stryker were worth $35,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SYK. Vanguard Group Inc. increased its stake in Stryker by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after purchasing an additional 272,828 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after buying an additional 741,542 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Stryker by 4.4% in the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock worth $851,457,000 after buying an additional 96,662 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Stryker by 4.5% during the third quarter. Invesco Ltd. now owns 1,864,918 shares of the medical technology company’s stock valued at $689,404,000 after acquiring an additional 80,536 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

SYK stock opened at $338.15 on Tuesday. The company has a market cap of $129.50 billion, a P/E ratio of 40.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. Stryker Corporation has a 1 year low of $319.32 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The stock’s fifty day moving average price is $352.61 and its 200-day moving average price is $359.31.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the business earned $4.01 earnings per share. Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts forecast that Stryker Corporation will post 14.92 earnings per share for the current year.

Stryker Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. Jefferies Financial Group restated a “buy” rating and issued a $465.00 price objective on shares of Stryker in a report on Wednesday, March 4th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Saturday. Leerink Partners initiated coverage on Stryker in a report on Monday, April 13th. They issued an “outperform” rating and a $410.00 target price for the company. Barclays restated an “overweight” rating and issued a $469.00 price target on shares of Stryker in a research note on Monday, February 2nd. Finally, UBS Group lowered their price target on Stryker from $400.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $421.11.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.60% of the stock is owned by company insiders.

Stryker Company 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.