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

Handelsbanken Fonder AB raised its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,293 shares of the medical technology company's stock after acquiring an additional 15,781 shares during the period. Handelsbanken Fonder AB owned approximately 0.07% of Stryker worth $98,755,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock valued at $11,773,213,000 after purchasing an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 in the last quarter. FMR LLC boosted its position in shares of Stryker by 10.0% in 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 period. Geode Capital Management LLC increased its position in Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after acquiring an additional 168,436 shares during the period. Finally, Norges Bank bought a new stake in Stryker in the 4th quarter valued at about $1,710,744,000. Institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of analyst reports. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. BTIG Research set a $403.00 target price on Stryker and gave the stock a "buy" rating in a report on Monday, April 14th. Roth Mkm boosted 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. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research note on Tuesday, March 4th. Finally, Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Down 1.0%

NYSE SYK traded down $4.02 on Wednesday, hitting $381.03. The company's stock had a trading volume of 792,341 shares, compared to its average volume of 1,330,630. The company has a quick ratio of 1.32, a current ratio of 1.95 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 company's 50-day moving average is $370.53 and its 200 day moving average is $375.91. The firm has a market cap of $145.43 billion, a PE ratio of 49.10, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) 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 the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the prior year, the company posted $2.50 EPS. The company's revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

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.