one8zero8 LLC bought a new position in shares of Stryker Corporation (NYSE:SYK – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,420 shares of the medical technology company’s stock, valued at approximately $2,966,000.
A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Varma Mutual Pension Insurance Co increased its stake in Stryker by 10.5% in the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company’s stock valued at $18,842,000 after buying an additional 5,100 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Stryker by 7.4% during the 4th quarter. QRG Capital Management Inc. now owns 60,548 shares of the medical technology company’s stock valued at $21,281,000 after buying an additional 4,186 shares during the period. Swedbank AB grew its holdings in shares of Stryker by 6.6% during the 4th quarter. Swedbank AB now owns 129,027 shares of the medical technology company’s stock valued at $45,349,000 after acquiring an additional 7,934 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Stryker by 31.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 26,820 shares of the medical technology company’s stock valued at $9,426,000 after acquiring an additional 6,367 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Stryker by 6.5% in the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after acquiring an additional 199,863 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.
Stryker Price Performance
Shares of NYSE:SYK opened at $340.20 on Thursday. The stock has a market capitalization of $130.49 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.11 and a beta of 0.76. The business has a 50-day moving average of $326.19 and a two-hundred day moving average of $332.95. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $396.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33.
Stryker Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) is currently 36.48%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on SYK. Leerink Partners reduced their price objective on Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Truist Financial raised their price target on Stryker from $330.00 to $340.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Needham & Company LLC reduced their price target on Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a report on Friday, May 1st. UBS Group started coverage on Stryker in a research note on Tuesday, July 28th. They issued a “buy” rating and a $400.00 price target for the company. Finally, Argus set a $370.00 price objective on shares of Stryker in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $386.28.
Insider Transactions at Stryker
In related news, VP Robert S. Fletcher sold 4,544 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the transaction, the vice president directly owned 10,582 shares in the company, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. This represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 315,370 shares of company stock worth $98,463,501. 4.60% of the stock is owned by insiders.
Stryker Profile
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.
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