Stryker Corporation $SYK Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its stake in Stryker Corporation (NYSE:SYK) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,054 shares of the medical technology company’s stock after selling 3,388 shares during the quarter. Handelsbanken Fonder AB’s holdings in Stryker were worth $104,267,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after buying an additional 272,828 shares during the last quarter. State Street Corp lifted its position in shares of Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after acquiring an additional 150,204 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after acquiring an additional 79,654 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker during the second quarter worth approximately $1,882,173,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $386.04 on Friday. The company’s 50-day moving average is $362.53 and its two-hundred day moving average is $369.14. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The firm has a market capitalization of $147.73 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.24 and a beta of 0.87.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating 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 firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the company earned $4.01 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts forecast that Stryker Corporation will post 13.47 EPS for the current 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 given a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. Stryker’s payout ratio is currently 41.90%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SYK shares. William Blair assumed coverage on shares of Stryker in a research note on Friday, February 20th. They set an “outperform” rating on the stock. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research report on Friday, January 9th. Sanford C. Bernstein upped their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 target price on shares of Stryker in a research note on Friday, November 14th. Finally, 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. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $426.47.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction 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 in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by company insiders.

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.