ING Groep NV Makes New $18.55 Million Investment in Stryker Corporation $SYK

ING Groep NV purchased a new stake in Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 50,181 shares of the medical technology company’s stock, valued at approximately $18,550,000.

A number of other hedge funds have also modified their holdings of SYK. Rhumbline Advisers increased its position in Stryker by 0.5% during the 3rd quarter. Rhumbline Advisers now owns 636,032 shares of the medical technology company’s stock worth $235,122,000 after purchasing an additional 3,463 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Stryker by 7.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,644 shares of the medical technology company’s stock worth $12,068,000 after buying an additional 2,197 shares during the period. ABC Arbitrage SA purchased a new position in shares of Stryker in the 3rd quarter worth about $1,103,000. Stratos Wealth Partners LTD. lifted its position in Stryker by 9.2% during the third quarter. Stratos Wealth Partners LTD. now owns 19,001 shares of the medical technology company’s stock valued at $7,024,000 after buying an additional 1,607 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of Stryker by 5.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,772 shares of the medical technology company’s stock valued at $1,764,000 after acquiring an additional 239 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 252,118 shares of company stock worth $91,504,172 over the last ninety days. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SYK shares. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a research note on Monday, January 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. Citigroup reissued a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research note on Friday, December 19th. Twelve 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, Stryker has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Stryker Trading Up 0.7%

NYSE SYK opened at $363.76 on Thursday. The company has a market capitalization of $139.11 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company’s fifty day moving average price is $357.92 and its two-hundred day moving average price is $369.84.

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

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. 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.