ASR Vermogensbeheer N.V. Acquires New Position in Stryker Corporation (NYSE:SYK)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $8.27 million in Stryker Corporation by acquiring 22,217 shares during Q1.
• Institutional investors own about 77.09% of Stryker's stock, with several firms increasing their stakes in the company recently.
• Analysts have set a consensus price target of $430.10 for Stryker, with 16 analysts rating it as a "buy" and four as a "hold".

ASR Vermogensbeheer N.V. purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 22,217 shares of the medical technology company's stock, valued at approximately $8,270,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares in the last quarter. FIL Ltd boosted its stake in shares of Stryker by 1.7% in the 4th quarter. FIL Ltd now owns 570,499 shares of the medical technology company's stock valued at $205,408,000 after purchasing an additional 9,697 shares during the last quarter. Bank of Nova Scotia lifted its stake in Stryker by 334.6% in the fourth quarter. Bank of Nova Scotia now owns 190,679 shares of the medical technology company's stock valued at $68,654,000 after buying an additional 146,808 shares during the period. Advisory Services Network LLC raised its holdings in Stryker by 1.0% in the fourth quarter. Advisory Services Network LLC now owns 19,678 shares of the medical technology company's stock worth $7,086,000 after purchasing an additional 196 shares during the period. Finally, Faithward Advisors LLC grew its position in shares of Stryker by 13.1% in the 4th quarter. Faithward Advisors LLC now owns 1,795 shares of the medical technology company's stock valued at $646,000 after purchasing an additional 208 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup restated a "buy" rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a report on Monday. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

SYK stock traded up $1.36 on Friday, hitting $377.73. The company had a trading volume of 972,332 shares, compared to its average volume of 1,333,167. The stock has a market cap of $144.41 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock's 50-day simple moving average is $387.17 and its 200 day simple moving average is $380.15. Stryker Corporation has a 12-month low of $322.03 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.81 EPS. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

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.