ABC Arbitrage SA Purchases Shares of 2,985 Stryker Corporation $SYK

ABC Arbitrage SA bought a new position in Stryker Corporation (NYSE:SYK) during the 3rd quarter, Holdings Channel.com reports. The firm bought 2,985 shares of the medical technology company’s stock, valued at approximately $1,103,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Stryker during the second quarter valued at approximately $1,882,173,000. Alliancebernstein L.P. lifted its position in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. purchased a new position in shares of Stryker during the second quarter valued at about $191,047,000. Finally, Vanguard Group Inc. lifted its holdings in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after buying an additional 440,607 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other 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 value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was 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 approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 252,118 shares of company stock valued at $91,504,172. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYK. Sanford C. Bernstein lifted their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research note on Friday, January 9th. Finally, Wells Fargo & Company increased their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.94.

Stryker Trading Up 0.7%

SYK stock opened at $363.76 on Thursday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The firm has a market cap of $139.11 billion, a P/E ratio of 43.30, a PEG ratio of 2.11 and a beta of 0.87. The company’s 50-day simple moving average is $357.92 and its 200-day simple moving average is $369.84.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The business 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%.The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.01 earnings per share. As a group, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio is 41.90%.

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.