Nordea Investment Management AB Sells 6,128 Shares of Stryker Corporation $SYK

Nordea Investment Management AB reduced its position in shares of Stryker Corporation (NYSE:SYK) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,095,377 shares of the medical technology company’s stock after selling 6,128 shares during the period. Nordea Investment Management AB’s holdings in Stryker were worth $386,712,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Stryker during the 2nd quarter valued at approximately $1,882,173,000. Alliancebernstein L.P. grew its position in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares during the period. Strive Asset Management LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $227,389,000. Finally, Credit Agricole S A bought a new position in shares of Stryker during the third quarter valued at approximately $194,045,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research analyst reports. Sanford C. Bernstein raised their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Piper Sandler restated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. William Blair reaffirmed an “outperform” rating on shares of Stryker in a research report on Thursday, March 5th. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Finally, Barclays reiterated an “overweight” rating and set a $469.00 price target on shares of Stryker in a research report on Monday, February 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $427.50.

Stryker Price Performance

Shares of NYSE SYK opened at $335.96 on Friday. The company has a 50 day simple moving average of $363.25 and a two-hundred day simple moving average of $365.88. Stryker Corporation has a fifty-two week low of $328.23 and a fifty-two week high of $404.87. The company has a market capitalization of $128.57 billion, a price-to-earnings ratio of 39.99, a P/E/G ratio of 1.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

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

Stryker Dividend Announcement

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

Stryker 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.