21,402 Shares in Stryker Corporation $SYK Acquired by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in Stryker Corporation (NYSE:SYK) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,402 shares of the medical technology company’s stock, valued at approximately $7,912,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Clayton Financial Group LLC purchased a new stake in shares of Stryker during the 3rd quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the second quarter valued at $28,000. Kilter Group LLC acquired a new stake in Stryker in the second quarter valued at $29,000. Howard Hughes Medical Institute acquired a new stake in Stryker in the second quarter valued at $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Stryker during the 3rd quarter worth about $34,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Down 1.9%

Shares of NYSE SYK opened at $358.83 on Wednesday. The stock has a market cap of $137.32 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The business has a 50-day moving average price of $365.82 and a 200 day moving average price of $368.46.

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

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a report on Tuesday, January 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. UBS Group raised their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Robert W. Baird set a $437.00 price objective on shares of Stryker in a research report on Friday, January 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $465.00 target price on shares of Stryker in a report on Wednesday, March 4th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $428.61.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on 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 sale, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by company insiders.

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.