Alecta Tjanstepension Omsesidigt Grows Position in Stryker Corporation (NYSE:SYK)

Alecta Tjanstepension Omsesidigt raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,800 shares of the medical technology company's stock after acquiring an additional 75,300 shares during the period. Alecta Tjanstepension Omsesidigt owned approximately 0.07% of Stryker worth $93,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital A Wealth Management LLC purchased a new position in shares of Stryker in the fourth quarter worth $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker in the first quarter worth $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker in the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of NYSE SYK traded up $4.77 during mid-day trading on Tuesday, reaching $392.09. 264,077 shares of the company were exchanged, compared to its average volume of 1,345,050. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company's 50-day simple moving average is $385.67 and its 200-day simple moving average is $378.19. The stock has a market capitalization of $149.66 billion, a P/E ratio of 52.97, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 45.41%.

Insider Activity at Stryker

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 sale, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Evercore ISI increased their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

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.

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