Handelsbanken Fonder AB Acquires 15,781 Shares of Stryker Co. (NYSE:SYK)

Handelsbanken Fonder AB boosted its stake in shares of Stryker Co. (NYSE:SYK) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 265,293 shares of the medical technology company’s stock after acquiring an additional 15,781 shares during the quarter. Handelsbanken Fonder AB’s holdings in Stryker were worth $98,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock worth $4,000,056,000 after buying an additional 54,693 shares during the period. FMR LLC increased its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after acquiring an additional 168,436 shares during the period. Finally, Norges Bank bought a new stake in shares of Stryker in the 4th quarter worth about $1,710,744,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK stock opened at $382.25 on Tuesday. The firm has a market cap of $145.90 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $370.19 and its 200 day moving average is $375.85.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the business posted $2.50 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is currently 45.41%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial upped their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

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.