ING Groep NV Takes Position in Stryker Corporation $SYK

ING Groep NV purchased a new stake in Stryker Corporation (NYSE:SYK) in the third quarter, Holdings Channel reports. The institutional investor purchased 50,181 shares of the medical technology company’s stock, valued at approximately $18,550,000.

Several other hedge funds also recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker during the 2nd quarter valued at about $26,000. Clayton Financial Group LLC bought a new stake in Stryker in the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Stryker in the second quarter valued at about $28,000. Kilter Group LLC acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $29,000. Finally, Howard Hughes Medical Institute acquired a new position in shares of Stryker in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $363.76 on Thursday. The company has a market cap of $139.11 billion, a PE ratio of 43.30, a PEG ratio of 2.11 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 Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The company’s 50-day moving average is $357.92 and its two-hundred day moving average is $369.84.

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

Stryker Announces Dividend

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

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 252,118 shares of company stock worth $91,504,172 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SYK shares. Barclays reiterated an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a research note on Monday, February 2nd. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research report on Friday, December 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a research note on Friday, January 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $426.94.

About Stryker

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.