DNB Asset Management AS Reduces Stock Position in Stryker Corporation $SYK

DNB Asset Management AS cut its stake in Stryker Corporation (NYSE:SYK) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,457 shares of the medical technology company’s stock after selling 7,650 shares during the quarter. DNB Asset Management AS’s holdings in Stryker were worth $24,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Clayton Financial Group LLC purchased a new position in Stryker during the 3rd quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker in the second quarter worth about $28,000. Kilter Group LLC bought a new position in shares of Stryker in the second quarter valued at approximately $29,000. Howard Hughes Medical Institute purchased a new position in Stryker during the second quarter valued at approximately $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Stryker during the third quarter valued at approximately $34,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. UBS Group upped their price target on shares of Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday. William Blair began coverage on Stryker in a research note on Friday, February 20th. They set an “outperform” rating for the company. BTIG Research boosted their target price on Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Evercore set a $390.00 target price on Stryker in a research note on Monday, January 5th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $426.47.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on 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 transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by insiders.

Stryker Stock Up 0.3%

Shares of NYSE:SYK opened at $387.34 on Friday. The firm has a market capitalization of $148.23 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The firm has a fifty day moving average of $363.17 and a 200 day moving average of $369.21.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio is currently 41.90%.

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.