BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Stryker Corporation $SYK

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Stryker Corporation (NYSE:SYK) by 101.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,497 shares of the medical technology company’s stock after purchasing an additional 17,369 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Stryker were worth $12,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker in the 2nd quarter worth approximately $26,000. Clayton Financial Group LLC purchased a new stake in Stryker in the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker in the second quarter valued at approximately $28,000. Kilter Group LLC acquired a new position in Stryker during the second quarter worth $29,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Stryker during the second quarter worth $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.90% of the stock is owned by company insiders.

Stryker Stock Up 0.5%

SYK stock opened at $362.63 on Friday. The company’s 50 day moving average price is $358.65 and its 200 day moving average price is $371.05. The firm has a market capitalization of $138.68 billion, a price-to-earnings ratio of 43.17, a PEG ratio of 2.11 and a beta of 0.87. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company 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 earned $4.01 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.88 dividend. 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 dividend payout ratio is 41.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYK shares. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Evercore ISI set a $390.00 price objective on shares of Stryker in a research note on Monday, January 5th. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.56.

Stryker 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.