Norges Bank Takes Position in Stryker Co. (NYSE:SYK)

Norges Bank bought a new position in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,751,407 shares of the medical technology company’s stock, valued at approximately $1,710,744,000. Norges Bank owned 1.25% of Stryker at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Raymond James Financial Inc. acquired a new position in Stryker during the fourth quarter worth approximately $353,394,000. Proficio Capital Partners LLC boosted its holdings in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after acquiring an additional 595,061 shares during the period. RTW Investments LP acquired a new stake in Stryker in the third quarter valued at approximately $143,392,000. State Street Corp raised its stake in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. Finally, Vanguard Group Inc. increased its stake in Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after buying an additional 252,188 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Truist Financial raised their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Stock Down 1.5 %

SYK stock opened at $367.34 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a 50 day moving average of $384.74 and a two-hundred day moving average of $374.29. The company has a market cap of $140.17 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the business posted $3.46 EPS. On average, equities analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is 43.30%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.