Tema Etfs LLC Increases Stake in Stryker Corporation $SYK

Tema Etfs LLC raised its stake in Stryker Corporation (NYSE:SYK) by 518.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,551 shares of the medical technology company’s stock after acquiring an additional 4,653 shares during the quarter. Tema Etfs LLC’s holdings in Stryker were worth $2,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after buying an additional 440,607 shares in the last quarter. State Street Corp raised its position in shares of Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after acquiring an additional 150,204 shares during the period. Geode Capital Management LLC boosted its stake in shares of Stryker by 1.1% during the 2nd 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 in the last quarter. Alliancebernstein L.P. grew its position in shares of Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after acquiring an additional 4,223,366 shares during the period. Finally, Norges Bank purchased a new position in shares of Stryker in the 2nd quarter valued at about $1,882,173,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $361.30 on Tuesday. 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 firm has a market capitalization of $138.17 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.89. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm has a 50-day moving average price of $359.97 and a 200-day moving average price of $374.75.

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

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.88 per share. 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. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is currently 46.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SYK shares. Raymond James Financial upgraded 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. Sanford C. Bernstein increased their target price on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $448.00 price target on shares of Stryker in a report on Friday, November 14th. Evercore ISI set a $390.00 price objective on shares of Stryker in a research report on Monday, January 5th. Finally, Citigroup dropped their target price on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $430.00.

Insider Activity

In other Stryker news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 522,118 shares of company stock worth $185,381,932. 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.