E Fund Management Co. Ltd. Boosts Stake in Stryker Co. (NYSE:SYK)

E Fund Management Co. Ltd. lifted its holdings in Stryker Co. (NYSE:SYK) by 70.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,704 shares of the medical technology company’s stock after buying an additional 704 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Stryker were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SYK. State Street Corp increased its position in shares of Stryker by 2.2% in 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 buying an additional 316,404 shares in the last quarter. FMR LLC grew its stake in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Geode Capital Management LLC increased its holdings in Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares in the last quarter. Parnassus Investments LLC acquired a new position in Stryker during the third quarter worth about $762,798,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after purchasing an additional 48,819 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business’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 completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was 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 position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. Truist Financial boosted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada upped their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price objective on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $422.15.

Stryker Trading Down 0.8 %

NYSE:SYK opened at $379.28 on Friday. The firm has a market capitalization of $144.73 billion, a P/E ratio of 48.88, a P/E/G ratio of 2.93 and a beta of 0.96. The business has a 50 day simple moving average of $382.45 and a 200 day simple moving average of $372.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating 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 period last year, the company earned $3.46 EPS. Equities research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Stryker 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.