Tredje AP fonden Grows Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• Tredje AP fonden increased its stake in Stryker Corporation by 6.8% during the first quarter, owning a total of 99,000 shares valued at approximately $36.85 million.
• Stryker announced a quarterly dividend of $0.84 per share, with a payout ratio of 45.41%, scheduled for payment on July 31st.
• The company reported $2.84 earnings per share for the latest quarter, exceeding estimates and showing a revenue increase of 11.9% year-over-year.

Tredje AP fonden boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,000 shares of the medical technology company's stock after buying an additional 6,321 shares during the period. Tredje AP fonden's holdings in Stryker were worth $36,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Stryker by 0.5% in the 4th 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 raised its position in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after buying an additional 168,436 shares in the last quarter. Northern Trust Corp raised its position in shares of Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after buying an additional 2,070,133 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SYK. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. Citigroup restated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Evercore ISI boosted 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. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Stryker Trading Up 0.1%

NYSE:SYK traded up $0.24 during midday trading on Wednesday, reaching $400.81. 1,077,201 shares of the stock traded hands, compared to its average volume of 1,068,540. The company has a fifty day moving average of $387.13 and a 200 day moving average of $379.97. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The stock has a market capitalization of $152.99 billion, a P/E ratio of 54.16, a PEG ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued 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 analyst estimates of $5.68 billion. During the same period in the prior year, the business earned $2.50 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.84%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's 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 completion of the transaction, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker 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.