Tredje AP fonden Sells 10,300 Shares of Stryker Corporation $SYK

Tredje AP fonden reduced its stake in Stryker Corporation (NYSE:SYK) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,700 shares of the medical technology company’s stock after selling 10,300 shares during the period. Tredje AP fonden’s holdings in Stryker were worth $36,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Vanguard Group Inc. grew its position in shares of Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after buying an additional 272,828 shares during the last quarter. State Street Corp raised its holdings in shares of Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after acquiring an additional 150,204 shares in the last quarter. Geode Capital Management LLC lifted its stake in Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after acquiring an additional 79,654 shares during the period. Alliancebernstein L.P. lifted its stake in Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares during the period. Finally, Norges Bank bought a new stake in Stryker in the second quarter valued at $1,882,173,000. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was 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 approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Up 2.0%

SYK opened at $380.15 on Friday. The stock has a market capitalization of $145.48 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.18 and a beta of 0.87. The firm has a 50 day moving average price of $360.05 and a 200-day moving average price of $368.95. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYK. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a research report on Tuesday, January 6th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research report on Friday, January 9th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Saturday. BTIG Research raised their target price on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research report on Friday, December 19th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.94.

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.