Stryker Corporation $SYK Stake Raised by Legal & General Group Plc

Legal & General Group Plc raised its holdings in Stryker Corporation (NYSE:SYK) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,303,290 shares of the medical technology company’s stock after acquiring an additional 96,662 shares during the quarter. Legal & General Group Plc owned 0.60% of Stryker worth $851,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Armstrong Advisory Group Inc. raised its holdings in shares of Stryker by 12.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after purchasing an additional 27 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Stryker by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock worth $704,000 after buying an additional 27 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Stryker by 3.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after buying an additional 28 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Stryker by 2.3% in the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after buying an additional 28 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its holdings in shares of Stryker by 4.3% in the second quarter. Enterprise Financial Services Corp now owns 705 shares of the medical technology company’s stock valued at $279,000 after buying an additional 29 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’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 transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of Stryker in a research report on Thursday. UBS Group boosted their target price on Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. TD Cowen downgraded Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a report on Monday, January 26th. Truist Financial decreased their price target on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $428.61.

Stryker Price Performance

Shares of NYSE:SYK opened at $366.05 on Tuesday. The company’s fifty day moving average is $365.72 and its two-hundred day moving average is $368.71. The company has a market cap of $140.08 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85. Stryker Corporation has a 12-month low of $329.16 and a 12-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.

Stryker (NYSE:SYK) last issued its 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 during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.01 earnings per share. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm 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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is 41.90%.

About Stryker

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.