DNB Asset Management AS Sells 7,650 Shares of Stryker Corporation $SYK

DNB Asset Management AS cut its stake in Stryker Corporation (NYSE:SYK) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,457 shares of the medical technology company’s stock after selling 7,650 shares during the quarter. DNB Asset Management AS’s holdings in Stryker were worth $24,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Stryker in the second quarter valued at about $205,000. Arkadios Wealth Advisors lifted its position in shares of Stryker by 17.2% during the second quarter. Arkadios Wealth Advisors now owns 4,747 shares of the medical technology company’s stock valued at $1,878,000 after purchasing an additional 695 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Stryker by 4.4% during the second quarter. Premier Path Wealth Partners LLC now owns 1,746 shares of the medical technology company’s stock worth $691,000 after purchasing an additional 73 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in Stryker by 11.0% during the second quarter. HBK Sorce Advisory LLC now owns 940 shares of the medical technology company’s stock worth $372,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SYK shares. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Needham & Company LLC upped their target price on Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a report on Friday, January 30th. The Goldman Sachs Group set a $399.00 price target on Stryker in a research report on Friday, January 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. Finally, William Blair began coverage on Stryker in a research note on Friday, February 20th. They issued an “outperform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.47.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker 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 completion of the transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Stryker stock opened at $387.34 on Friday. The business’s 50 day simple moving average is $363.17 and its 200 day simple moving average is $369.21. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a market cap of $148.23 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 2.26 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 (NYSE:SYK) last issued its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.01 earnings per share. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

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.