Dynamic Technology Lab Private Ltd Invests $838,000 in Stryker Corporation $SYK

Dynamic Technology Lab Private Ltd purchased a new stake in Stryker Corporation (NYSE:SYK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,267 shares of the medical technology company’s stock, valued at approximately $838,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Clayton Financial Group LLC bought a new position in Stryker in the 3rd quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Stryker during the second quarter worth $28,000. Kilter Group LLC acquired a new position in shares of Stryker during the second quarter worth $29,000. Howard Hughes Medical Institute bought a new position in shares of Stryker in the 2nd quarter valued at $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Stryker in the 3rd quarter valued at $34,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

NYSE SYK opened at $366.05 on Tuesday. The company has a market capitalization of $140.08 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 2.13 and a beta of 0.85. 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 Corporation has a twelve month low of $329.16 and a twelve month high of $404.87. The stock has a fifty day simple moving average of $365.72 and a 200 day simple moving average of $368.71.

Stryker (NYSE:SYK) last announced 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. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.01 EPS. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. 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 presently 41.90%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYK. Piper Sandler reissued an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a research report on Tuesday, January 6th. Robert W. Baird set a $437.00 price target on Stryker in a report on Friday, January 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a research note on Friday, November 14th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $428.61.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.