Securian Asset Management Inc. Has $6.13 Million Stock Holdings in Stryker Corporation $SYK

Securian Asset Management Inc. reduced its position in shares of Stryker Corporation (NYSE:SYK) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,578 shares of the medical technology company’s stock after selling 1,498 shares during the period. Securian Asset Management Inc.’s holdings in Stryker were worth $6,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Two Point Capital Management Inc. bought a new stake in shares of Stryker in the second quarter valued at about $7,281,000. Diversified Trust Co raised its holdings in Stryker by 45.6% in the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after acquiring an additional 3,899 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its position in shares of Stryker by 82.0% in the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 458,300 shares of the medical technology company’s stock worth $181,235,000 after acquiring an additional 206,500 shares during the period. SVB Wealth LLC acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $4,785,000. Finally, AXQ Capital LP bought a new stake in shares of Stryker during the second quarter valued at approximately $567,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the subject of several research reports. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a research report on Friday, December 19th. Rothschild Redb raised shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. BTIG Research restated a “buy” rating and set a $410.00 price target on shares of Stryker in a research note on Friday, November 14th. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a report on Tuesday. Finally, Truist Financial dropped their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $430.40.

Insider Buying and Selling

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 522,118 shares of company stock worth $185,381,932 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $366.46 on Wednesday. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The firm’s 50-day moving average price is $359.75 and its two-hundred day moving average price is $375.35. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $140.14 billion, a price-to-earnings ratio of 48.16, a P/E/G ratio of 2.23 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period in the prior year, the company earned $2.87 EPS. Stryker’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.88 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 46.25%.

About Stryker

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.