Nordea Investment Management AB Sells 6,128 Shares of Stryker Corporation $SYK

Nordea Investment Management AB cut its stake in shares of Stryker Corporation (NYSE:SYK) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,095,377 shares of the medical technology company’s stock after selling 6,128 shares during the quarter. Nordea Investment Management AB owned 0.29% of Stryker worth $386,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Clayton Financial Group LLC bought a new stake in shares of Stryker during the 3rd quarter worth $26,000. United Financial Planning Group LLC bought a new position in Stryker in the third quarter valued at $27,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker during the second quarter valued at about $28,000. Kilter Group LLC purchased a new stake in Stryker during the second quarter valued at about $29,000. Finally, Howard Hughes Medical Institute bought a new stake in Stryker during the second quarter worth about $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. Sanford C. Bernstein increased their price objective on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Evercore set a $390.00 target price on Stryker in a research note on Monday, January 5th. Truist Financial decreased their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Finally, Citigroup restated a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $427.50.

Insider Activity

In related news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 1.1%

SYK opened at $335.96 on Friday. Stryker Corporation has a 12 month low of $328.23 and a 12 month high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $363.25 and its 200-day moving average price is $365.88. The company has a market cap of $128.57 billion, a P/E ratio of 39.99, a P/E/G ratio of 1.96 and a beta of 0.85.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. The company 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.01 EPS. On average, equities analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) 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.