Vanguard Group Inc. Increases Stock Position in Stryker Corporation $SYK

Vanguard Group Inc. increased its stake in shares of Stryker Corporation (NYSE:SYK) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,773,399 shares of the medical technology company’s stock after purchasing an additional 272,828 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Stryker worth $12,485,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Norges Bank bought a new position in shares of Stryker during the 2nd quarter valued at $1,882,173,000. Alliancebernstein L.P. boosted its stake in Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Corient Private Wealth LLC lifted its stake in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. purchased a new position in shares of Stryker during the second quarter valued at about $191,047,000. Finally, Amundi increased its stake in Stryker by 37.9% during the second quarter. Amundi now owns 1,080,958 shares of the medical technology company’s stock worth $423,530,000 after acquiring an additional 296,919 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.0%

Shares of NYSE:SYK opened at $366.02 on Monday. 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 52-week low of $329.16 and a 52-week high of $404.87. The stock has a market cap of $140.07 billion, a price-to-earnings ratio of 43.57, a PEG ratio of 2.14 and a beta of 0.87. The business has a 50-day moving average price of $358.00 and a 200-day moving average price of $369.13.

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

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio is presently 41.90%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent research reports. Evercore set a $390.00 target price on Stryker in a report on Monday, January 5th. Citigroup reissued a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Sanford C. Bernstein raised their price target on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Wells Fargo & Company increased their target price on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.94.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer 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. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is currently owned by company insiders.

Stryker 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.