Skandinaviska Enskilda Banken AB publ Has $120.26 Million Position in Stryker Corporation (NYSE:SYK)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Stryker Corporation by 94.8% in the first quarter, owning a total of 323,060 shares valued at approximately $120 million.
• Stryker's Director, Ronda E. Stryker, sold 200,000 shares for around $75 million, reducing her ownership by 5.53%, while institutional investors hold about 77.09% of the company's stock.
• Analysts have a consensus rating of "Moderate Buy" for Stryker's stock, with a price target averaging $428.55 following an upgrade from multiple firms.

Skandinaviska Enskilda Banken AB publ raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 94.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 323,060 shares of the medical technology company's stock after purchasing an additional 157,240 shares during the period. Stryker accounts for approximately 0.6% of Skandinaviska Enskilda Banken AB publ's portfolio, making the stock its 28th largest holding. Skandinaviska Enskilda Banken AB publ owned approximately 0.08% of Stryker worth $120,259,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter worth about $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the first quarter worth about $32,000. City Holding Co. increased its position in Stryker by 528.6% during 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 acquired a new position in Stryker during the first quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SYK shares. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Evercore ISI increased their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, Roth Mkm increased their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average price target of $428.55.

Stryker Stock Down 0.8%

Shares of NYSE SYK traded down $3.10 during midday trading on Monday, reaching $400.43. The company's stock had a trading volume of 888,444 shares, compared to its average volume of 1,442,338. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock has a market capitalization of $152.84 billion, a price-to-earnings ratio of 54.11, a PEG ratio of 2.99 and a beta of 0.91. The stock has a 50 day simple moving average of $386.37 and a 200-day simple moving average of $379.44.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the company earned $2.50 earnings per share. The firm's revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current 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 paid a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. Stryker's dividend payout ratio is presently 45.41%.

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.