Alecta Tjanstepension Omsesidigt Takes Position in Stryker Co. (NYSE:SYK)

Alecta Tjanstepension Omsesidigt purchased a new position in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 176,500 shares of the medical technology company’s stock, valued at approximately $63,556,000.

Other large investors also recently bought and sold shares of the company. Dunhill Financial LLC grew its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Stryker during the 4th quarter valued at about $30,000. BankPlus Trust Department acquired a new stake in Stryker during the fourth quarter worth about $33,000. Darwin Wealth Management LLC acquired a new position in Stryker in the 3rd quarter valued at about $36,000. Finally, Activest Wealth Management purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SYK shares. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial upped their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Stifel Nicolaus boosted their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Price Performance

Stryker stock opened at $391.54 on Thursday. The stock has a market cap of $149.40 billion, a P/E ratio of 50.46, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a fifty day simple moving average of $379.42 and a 200-day simple moving average of $370.37. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the company posted $3.46 earnings per share. Equities analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker’s payout ratio is currently 43.30%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

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.