Stryker Corporation $SYK Shares Purchased by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd raised its holdings in Stryker Corporation (NYSE:SYK) by 7.0% during the third quarter, HoldingsChannel.com reports. The firm owned 37,984 shares of the medical technology company’s stock after buying an additional 2,486 shares during the period. Swiss Life Asset Management Ltd’s holdings in Stryker were worth $14,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Stryker by 0.8% during the third 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 in the last quarter. State Street Corp raised its holdings in Stryker by 1.0% in 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. Alliancebernstein L.P. boosted its stake in Stryker by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock valued at $2,342,987,000 after acquiring an additional 741,542 shares during the last quarter. Norges Bank acquired a new position in Stryker during the 2nd quarter worth $1,882,173,000. Finally, Legal & General Group Plc increased its position in shares of Stryker by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock worth $851,457,000 after purchasing an additional 96,662 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by insiders.

Stryker Stock Down 1.7%

NYSE:SYK opened at $339.97 on Friday. 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 stock has a 50 day moving average of $363.89 and a 200-day moving average of $366.43. The firm has a market capitalization of $130.10 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 2.02 and a beta of 0.85. Stryker Corporation has a 52 week low of $328.23 and a 52 week high of $404.87.

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

Stryker Announces Dividend

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 $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $465.00 price target on shares of Stryker in a research note on Wednesday, March 4th. Robert W. Baird set a $437.00 target price on Stryker in a research report on Friday, January 30th. The Goldman Sachs Group set a $399.00 price target on Stryker in a research report on Friday, January 9th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Finally, Sanford C. Bernstein increased their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $427.50.

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.