Assenagon Asset Management S.A. Buys 110 Shares of Stryker Co. (NYSE:SYK)

Assenagon Asset Management S.A. lifted its stake in Stryker Co. (NYSE:SYK) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,375 shares of the medical technology company’s stock after acquiring an additional 110 shares during the period. Assenagon Asset Management S.A.’s holdings in Stryker were worth $3,862,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after acquiring an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock worth $4,000,056,000 after acquiring an additional 54,693 shares during the period. FMR LLC raised its position in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after buying an additional 168,436 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth $1,710,744,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 0.9%

SYK opened at $377.01 on Monday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market cap of $143.90 billion, a P/E ratio of 48.58, a P/E/G ratio of 2.93 and a beta of 0.91. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $372.73 and its 200-day moving average price is $375.66.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the business earned $2.50 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio is presently 45.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SYK shares. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Truist Financial increased their price objective on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. BTIG Research set a $403.00 price objective on Stryker and gave the stock a “buy” rating in a research report on Monday, April 14th. Finally, Evercore ISI lowered their price objective on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $427.30.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Stryker Company 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.