HealthInvest Partners AB Takes Position in Stryker Co. (NYSE:SYK)

HealthInvest Partners AB purchased a new stake in Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,802 shares of the medical technology company's stock, valued at approximately $3,834,000. Stryker makes up 3.0% of HealthInvest Partners AB's investment portfolio, making the stock its 15th largest holding.

A number of other large investors have also made changes to their positions in SYK. Fairfield Bush & CO. purchased a new stake in shares of Stryker in the first quarter valued at approximately $131,000. Dimensional Fund Advisors LP grew its position in Stryker by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company's stock worth $180,182,000 after acquiring an additional 9,026 shares during the period. Prudential PLC purchased a new position in Stryker in the first quarter worth approximately $1,444,000. Sequoia Financial Advisors LLC grew its position in Stryker by 21.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company's stock worth $817,000 after acquiring an additional 543 shares during the period. Finally, Zions Bancorporation N.A. grew its position in Stryker by 9.2% in the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company's stock worth $839,000 after acquiring an additional 265 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company's stock, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company's stock, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,109 shares of company stock worth $72,845,768. Corporate insiders own 5.50% of the company's stock.

Stryker Stock Down 0.5 %

Stryker stock traded down $1.59 during midday trading on Tuesday, reaching $337.54. The company's stock had a trading volume of 1,239,332 shares, compared to its average volume of 1,254,691. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The company has a market cap of $128.42 billion, a P/E ratio of 41.14, a P/E/G ratio of 2.75 and a beta of 0.89. The business has a 50-day simple moving average of $350.75 and a 200-day simple moving average of $311.41.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.60 billion. During the same quarter in the previous year, the firm earned $3.00 earnings per share. The business's revenue was up 11.8% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker's dividend payout ratio (DPR) is currently 38.79%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SYK shares. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the stock a "buy" rating in a research report on Thursday, April 11th. Canaccord Genuity Group upgraded Stryker from a "hold" rating to a "buy" rating and set a $360.00 price target for the company in a research report on Wednesday, January 31st. StockNews.com upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Tuesday, January 23rd. Truist Financial raised their price target on Stryker from $330.00 to $345.00 and gave the stock a "hold" rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada raised their price target on Stryker from $360.00 to $386.00 and gave the stock an "outperform" rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $339.22.

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.

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