Danske Bank A S Makes New Investment in Stryker Corporation $SYK

Danske Bank A S acquired a new stake in shares of Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 217,426 shares of the medical technology company’s stock, valued at approximately $80,376,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Clayton Financial Group LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new stake in Stryker in the third quarter worth $27,000. Elevation Point Wealth Partners LLC bought a new position in Stryker in the second quarter worth $28,000. Kilter Group LLC bought a new position in Stryker in the second quarter worth $29,000. Finally, Howard Hughes Medical Institute purchased a new position in Stryker during the second quarter valued at $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $349.19 on Wednesday. The firm has a market cap of $133.63 billion, a P/E ratio of 41.57, a PEG ratio of 2.04 and a beta of 0.85. Stryker Corporation has a twelve month low of $328.23 and a twelve month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $364.88 and a 200 day moving average of $366.76.

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

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SYK shares. Robert W. Baird set a $437.00 target price on shares of Stryker in a research report on Friday, January 30th. Sanford C. Bernstein boosted their price objective on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. UBS Group cut their price objective on shares of Stryker from $400.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a research note on Friday, January 9th. Finally, Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a report on Tuesday, January 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $427.50.

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.