Skandinaviska Enskilda Banken AB publ Sells 3,223 Shares of Stryker Corporation $SYK

Skandinaviska Enskilda Banken AB publ lessened its stake in Stryker Corporation (NYSE:SYK) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 348,478 shares of the medical technology company’s stock after selling 3,223 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.09% of Stryker worth $128,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Princeton Global Asset Management LLC lifted its position in shares of Stryker by 16.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after buying an additional 26 shares during the last quarter. Kovack Advisors Inc. raised its stake in Stryker by 3.6% in the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock valued at $305,000 after acquiring an additional 27 shares during the period. Armstrong Advisory Group Inc. raised its stake in Stryker by 12.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after acquiring an additional 27 shares during the period. Venturi Wealth Management LLC lifted its holdings in Stryker by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after purchasing an additional 27 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Stryker by 3.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 28 shares during the period. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Needham & Company LLC boosted their target price on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a report on Friday, January 30th. BTIG Research raised their price target on Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Robert W. Baird set a $437.00 price target on Stryker in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Stryker Trading Up 0.0%

Shares of SYK stock opened at $366.02 on Tuesday. The company has a market capitalization of $140.07 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The business’s fifty day moving average is $358.26 and its 200 day moving average is $368.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the previous year, the business earned $4.01 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.20% of the company’s stock.

Stryker Company 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.