KLP Kapitalforvaltning AS Boosts Holdings in Stryker Corporation (NYSE:SYK)

KLP Kapitalforvaltning AS increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,724 shares of the medical technology company's stock after buying an additional 1,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Stryker were worth $43,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Capital A Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new stake in Stryker in the 1st quarter worth $32,000. City Holding Co. lifted its stake in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the 1st quarter worth $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker in the 4th quarter worth about $42,000. Institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

SYK has been the topic of a number of research reports. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Citigroup restated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Truist Financial upped their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Stock Performance

Shares of NYSE:SYK traded down $4.08 on Thursday, hitting $396.85. 1,711,780 shares of the company were exchanged, compared to its average volume of 1,449,682. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The stock's 50 day moving average price is $386.10 and its 200 day moving average price is $378.65. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $151.47 billion, a P/E ratio of 53.63, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

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

Stryker Dividend Announcement

The firm 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 $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker's payout ratio is currently 45.41%.

Insider Buying and Selling 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 value of $75,392,000.00. Following the sale, the director owned 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by insiders.

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.