Handelsbanken Fonder AB Purchases 12,596 Shares of Stryker Co. (NYSE:SYK)

Handelsbanken Fonder AB increased its position in shares of Stryker Co. (NYSE:SYK) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,462 shares of the medical technology company’s stock after buying an additional 12,596 shares during the period. Handelsbanken Fonder AB’s holdings in Stryker were worth $36,373,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. Quarry LP bought a new stake in Stryker in the first quarter valued at $27,000. Freedom Wealth Alliance LLC bought a new stake in Stryker in the fourth quarter valued at $26,000. HBC Financial Services PLLC bought a new stake in Stryker in the fourth quarter valued at $37,000. Finally, Bourgeon Capital Management LLC bought a new stake in Stryker in the fourth quarter valued at $37,000. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 over the last three months. 5.50% of the stock is currently owned by insiders.

Stryker Stock Down 0.6 %

Stryker stock opened at $325.43 on Monday. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The stock has a market cap of $123.82 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. The firm’s 50-day simple moving average is $350.01 and its 200 day simple moving average is $313.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 earnings per share. Research analysts predict that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada lifted their price target on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.45.

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.