Stryker Corporation $SYK Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its holdings in Stryker Corporation (NYSE:SYK) by 39.3% during the third quarter, HoldingsChannel.com reports. The firm owned 30,505 shares of the medical technology company’s stock after buying an additional 8,604 shares during the period. UniSuper Management Pty Ltd’s holdings in Stryker were worth $11,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. acquired a new stake in Stryker in the second quarter valued at $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker in the 3rd quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Stryker in the 2nd quarter valued at about $28,000. Sachetta LLC raised its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kilter Group LLC acquired a new position in Stryker in the second quarter worth about $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 522,118 shares of company stock valued at $185,381,932. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $354.74 on Friday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The stock has a fifty day moving average price of $359.77 and a 200 day moving average price of $372.81. The company has a market cap of $135.66 billion, a P/E ratio of 46.62, a PEG ratio of 2.27 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the previous year, the company posted $2.87 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) is 46.25%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SYK shares. Citigroup cut their price objective on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Wells Fargo & Company upped their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Truist Financial decreased their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a research report on Tuesday, January 6th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $430.00.

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.