Avanza Fonder AB Sells 4,790 Shares of Stryker Co. (NYSE:SYK)

Avanza Fonder AB cut its holdings in Stryker Co. (NYSE:SYK - Free Report) by 11.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 36,391 shares of the medical technology company's stock after selling 4,790 shares during the period. Avanza Fonder AB's holdings in Stryker were worth $13,736,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SYK. J. W. Coons Advisors LLC lifted its position in Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after purchasing an additional 26 shares during the last quarter. Mascoma Wealth Management LLC increased its stake in shares of Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after purchasing an additional 27 shares during the period. Opal Wealth Advisors LLC raised its holdings in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock valued at $654,000 after buying an additional 28 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after buying an additional 28 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its position in Stryker by 4.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company's stock valued at $247,000 after acquiring an additional 29 shares during the period. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company's stock.

Stryker Stock Down 1.0%

NYSE SYK traded down $4.02 on Wednesday, reaching $381.03. The stock had a trading volume of 792,341 shares, compared to its average volume of 1,330,630. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The business has a 50 day moving average price of $370.53 and a 200 day moving average price of $375.91. The company has a market capitalization of $145.43 billion, a price-to-earnings ratio of 49.10, a P/E/G ratio of 2.93 and a beta of 0.91.

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

Stryker Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 6th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Truist Financial boosted their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Finally, Citigroup reaffirmed a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $427.30.

About Stryker

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.