Aster Capital Management DIFC Ltd Sells 2,779 Shares of Stryker Corporation $SYK

Aster Capital Management DIFC Ltd lowered its stake in Stryker Corporation (NYSE:SYK) by 44.3% in the 3rd quarter, Holdings Channel reports. The firm owned 3,491 shares of the medical technology company’s stock after selling 2,779 shares during the quarter. Stryker accounts for approximately 0.7% of Aster Capital Management DIFC Ltd’s portfolio, making the stock its 28th largest position. Aster Capital Management DIFC Ltd’s holdings in Stryker were worth $1,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Stryker during the second quarter valued at approximately $1,882,173,000. Alliancebernstein L.P. grew its position in shares of Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC grew its position 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. bought a new position in shares of Stryker in the second quarter worth $191,047,000. Finally, Vanguard Group Inc. raised its position in shares of 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 in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SYK shares. Royal Bank Of Canada restated an “outperform” rating and issued a $435.00 target price on shares of Stryker in a research note on Friday, November 14th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Robert W. Baird set a $437.00 target price on shares of Stryker in a research note on Friday, January 30th. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research note on Monday, January 26th. Finally, Piper Sandler reissued an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.47.

Stryker Stock Up 0.5%

Shares of NYSE:SYK opened at $386.04 on Friday. The stock’s 50-day moving average price is $362.53 and its 200-day moving average price is $369.14. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87. The stock has a market capitalization of $147.73 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the company posted $4.01 EPS. Stryker’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is presently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm’s 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 sale, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by corporate 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.