Stryker Corporation $SYK Shares Bought by Sei Investments Co.

Sei Investments Co. raised its holdings in Stryker Corporation (NYSE:SYKFree Report) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 427,634 shares of the medical technology company’s stock after purchasing an additional 7,655 shares during the period. Sei Investments Co.’s holdings in Stryker were worth $158,090,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SYK. Norges Bank acquired a new stake in shares of Stryker during the 2nd quarter worth about $1,882,173,000. Alliancebernstein L.P. raised its holdings 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 valued at $2,214,146,000 after buying an additional 4,223,366 shares during the period. Corient Private Wealth LLC lifted its position in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares during the last quarter. Strive Asset Management LLC purchased a new position in Stryker during the third quarter worth about $227,389,000. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Stryker during the second quarter valued at about $191,047,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

More Stryker News

Here are the key news stories impacting Stryker this week:

Stryker Price Performance

Stryker stock opened at $337.23 on Friday. 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 $328.23 and a 52-week high of $404.87. The firm has a market cap of $129.05 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 2.02 and a beta of 0.85. The company’s 50 day moving average is $365.42 and its two-hundred day moving average is $368.08.

Stryker (NYSE:SYKGet Free Report) last posted 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. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the firm posted $4.01 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors 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 presently 41.90%.

Insider Buying and Selling

In other Stryker 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 transaction of $90,730,000.00. Following the sale, 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 through this link. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays restated an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a report on Monday, February 2nd. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research report on Friday, December 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $465.00 price objective on shares of Stryker in a research note on Wednesday, March 4th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a report on Friday, January 9th. Finally, TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a research note on Monday, January 26th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $428.61.

View Our Latest Stock Analysis on Stryker

Stryker Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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