Stryker Co. (NYSE:SYK) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Stryker Co. (NYSE:SYK) by 103.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,707 shares of the medical technology company’s stock after acquiring an additional 61,438 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stryker were worth $36,147,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Stryker by 0.5% during the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after acquiring an additional 143,631 shares during the period. Morgan Stanley increased its stake in Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares in the last quarter. FMR LLC increased its stake in Stryker by 2.5% in the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after purchasing an additional 144,208 shares in the last quarter. Geode Capital Management LLC increased its stake in Stryker by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock worth $1,695,169,000 after purchasing an additional 117,786 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Stryker by 3.9% in the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock worth $957,974,000 after purchasing an additional 131,590 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SYK. Truist Financial lifted their price target on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Roth Mkm lifted their price target on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and raised their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Wells Fargo & Company raised their price objective on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada raised their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $339.22.

Stryker Stock Performance

Shares of NYSE SYK opened at $337.54 on Wednesday. The business’s 50 day moving average is $350.70 and its two-hundred day moving average is $311.86. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The company has a market cap of $128.42 billion, a P/E ratio of 40.91, a P/E/G ratio of 2.73 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.00 earnings per share. On average, equities analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is 38.79%.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 over the last 90 days. Insiders own 5.50% of the company’s stock.

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.