Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,373 shares of the medical technology company’s stock after selling 4,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Stryker were worth $15,546,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Advisor Group Inc. boosted its position in Stryker by 0.9% in the fourth quarter. Advisor Group Inc. now owns 35,452 shares of the medical technology company’s stock valued at $7,445,000 after buying an additional 305 shares in the last quarter. Transform Wealth LLC lifted its stake in shares of Stryker by 42.9% in the 4th quarter. Transform Wealth LLC now owns 5,020 shares of the medical technology company’s stock valued at $1,054,000 after acquiring an additional 1,507 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Stryker by 7.4% during the 4th quarter. Raymond James & Associates now owns 342,121 shares of the medical technology company’s stock valued at $71,829,000 after acquiring an additional 23,591 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc. acquired a new stake in shares of Stryker during the 4th quarter valued at $340,000. Finally, Cibc Bank USA grew its position in Stryker by 3.4% during the 4th quarter. Cibc Bank USA now owns 3,184 shares of the medical technology company’s stock worth $668,000 after acquiring an additional 105 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.
Shares of SYK stock traded down $0.95 during trading hours on Friday, hitting $184.14. 1,659,719 shares of the company were exchanged, compared to its average volume of 1,767,916. The company has a 50 day simple moving average of $180.04 and a two-hundred day simple moving average of $195.08. The firm has a market cap of $69.38 billion, a P/E ratio of 32.36, a P/E/G ratio of 3.24 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.58. Stryker Co. has a fifty-two week low of $124.54 and a fifty-two week high of $226.30.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.575 per share. The ex-dividend date is Monday, June 29th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.25%. Stryker’s dividend payout ratio (DPR) is presently 27.85%.
In other Stryker news, VP Katherine Ann Owen sold 9,149 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $186.79, for a total value of $1,708,941.71. Following the transaction, the vice president now owns 1,085 shares in the company, valued at $202,667.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Srikant M. Datar sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $186.01, for a total value of $37,202.00. Following the completion of the sale, the director now directly owns 17,686 shares of the company’s stock, valued at approximately $3,289,772.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,670 shares of company stock valued at $2,380,526. 6.80% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on SYK. Robert W. Baird boosted their price target on Stryker from $242.00 to $248.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Goldman Sachs Group downgraded shares of Stryker from a “buy” rating to a “sell” rating and cut their target price for the stock from $248.00 to $150.00 in a research report on Wednesday, April 1st. Cowen decreased their price target on shares of Stryker from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Credit Suisse Group lifted their price target on shares of Stryker from $229.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Wells Fargo & Co boosted their price objective on shares of Stryker from $201.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Stryker has an average rating of “Buy” and an average price target of $214.23.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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