Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Stryker Corporation $SYK

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Stryker Corporation (NYSE:SYK) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,756 shares of the medical technology company’s stock after acquiring an additional 2,613 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stryker were worth $35,061,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYK. Corient Private Wealth LLC raised its position in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Stryker by 13.3% during the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock valued at $2,342,987,000 after buying an additional 741,542 shares during the period. Strive Asset Management LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $227,389,000. Credit Agricole S A bought a new position in shares of Stryker during the third quarter valued at approximately $194,045,000. Finally, APG Asset Management N.V. lifted its stake in Stryker by 47.6% in the third quarter. APG Asset Management N.V. now owns 943,648 shares of the medical technology company’s stock worth $348,838,000 after acquiring an additional 304,203 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Stryker Price Performance

SYK opened at $338.15 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a market cap of $129.50 billion, a price-to-earnings ratio of 40.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. The stock has a fifty day simple moving average of $352.61 and a two-hundred day simple moving average of $359.31. Stryker Corporation has a 12-month low of $319.32 and a 12-month high of $404.87.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.01 EPS. Research analysts predict that Stryker Corporation will post 14.92 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SYK shares. The Goldman Sachs Group cut their price target on shares of Stryker from $403.00 to $357.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday. Barclays reaffirmed an “overweight” rating and set a $469.00 target price on shares of Stryker in a research note on Monday, February 2nd. Needham & Company LLC boosted their price target on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Citigroup decreased their price target on shares of Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $421.11.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.