Handelsbanken Fonder AB Raises Stake in Stryker Co. (NYSE:SYK)

Handelsbanken Fonder AB grew its position in shares of Stryker Co. (NYSE:SYK) by 29.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,512 shares of the medical technology company’s stock after purchasing an additional 56,465 shares during the period. Handelsbanken Fonder AB owned approximately 0.07% of Stryker worth $89,837,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Chicago Capital LLC raised its stake in shares of Stryker by 3.1% during the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock worth $70,228,000 after acquiring an additional 5,841 shares in the last quarter. Zhang Financial LLC boosted its position in Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after acquiring an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA grew its stake in Stryker by 5.0% in the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after purchasing an additional 1,400 shares during the period. Dale Q Rice Investment Management Ltd purchased a new position in Stryker during the 4th quarter valued at about $587,000. Finally, Berkshire Bank boosted its position in shares of Stryker by 13.8% in the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after purchasing an additional 1,030 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $420.68.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 0.7 %

Stryker stock opened at $388.30 on Thursday. The company has a market capitalization of $148.17 billion, a P/E ratio of 50.04, a PEG ratio of 2.90 and a beta of 0.96. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock has a 50-day simple moving average of $377.69 and a 200-day simple moving average of $368.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company posted $3.46 earnings per share. Equities research analysts expect that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.