APG Asset Management N.V. Buys 304,203 Shares of Stryker Corporation $SYK

APG Asset Management N.V. increased its stake in shares of Stryker Corporation (NYSE:SYK) by 47.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 943,648 shares of the medical technology company’s stock after purchasing an additional 304,203 shares during the quarter. Stryker makes up about 0.6% of APG Asset Management N.V.’s portfolio, making the stock its 22nd largest holding. APG Asset Management N.V.’s holdings in Stryker were worth $348,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Stryker during the second quarter worth $1,882,173,000. Alliancebernstein L.P. grew its position in Stryker by 307.6% during 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 acquiring an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $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 Stryker in the second quarter valued at about $191,047,000. Finally, Vanguard Group Inc. raised its position 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 valued at $13,253,831,000 after purchasing an additional 440,607 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYK. TD Cowen downgraded Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research note on Monday, January 26th. Truist Financial decreased their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Sanford C. Bernstein raised their price target 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $426.47.

Stryker Trading Up 0.3%

Shares of SYK stock opened at $387.34 on Friday. 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. The stock has a 50 day simple moving average of $363.17 and a two-hundred day simple moving average of $369.16. The company has a market cap of $148.23 billion, a P/E ratio of 46.11, a PEG ratio of 2.26 and a beta of 0.87.

Stryker (NYSE:SYK) last posted 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. The firm had revenue of $7.17 billion for 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 company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.01 EPS. Research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Insider Activity

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction dated 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 owned 2,457,331 shares of the company’s stock, valued at approximately $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 can be accessed through 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.