Stryker Corporation (NYSE:SYK) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Stryker Corporation by 2.3% during the 1st quarter, now holding 90,153 shares valued at approximately $33.56 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their holdings in Stryker, indicating strong ongoing interest, with institutional investors holding 77.09% of the company's stock.
• Stryker reported a 12.25% net margin and earnings per share of $3.13, surpassing consensus estimates, during its last quarterly earnings announcement.

Forsta AP Fonden decreased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,153 shares of the medical technology company's stock after selling 2,100 shares during the period. Forsta AP Fonden's holdings in Stryker were worth $33,559,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 purchasing an additional 54,693 shares during the last quarter. Northern Trust Corp boosted its position in Stryker by 13.2% during the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after purchasing an additional 420,153 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after acquiring an additional 261,058 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake 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 worth $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

SYK has been the topic of a number of recent research reports. 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. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Evercore ISI boosted their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Trading Up 0.3%

NYSE:SYK opened at $376.21 on Friday. The firm has a market capitalization of $143.83 billion, a P/E ratio of 49.83, a P/E/G ratio of 2.72 and a beta of 0.91. The business has a 50 day simple moving average of $387.27 and a 200 day simple moving average of $380.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 12-month low of $320.78 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the company posted $2.81 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research 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 Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio is presently 44.50%.

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.

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