Stryker Corporation $SYK Position Increased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC raised its position in Stryker Corporation (NYSE:SYK) by 36.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,679 shares of the medical technology company’s stock after purchasing an additional 2,068 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Stryker were worth $2,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Stryker by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after purchasing an additional 440,607 shares during the last quarter. State Street Corp boosted its holdings in Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after purchasing an additional 150,204 shares in the last quarter. Geode Capital Management LLC increased its position in Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after buying an additional 79,654 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Stryker in the second quarter worth about $1,882,173,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 1.1%

Shares of SYK opened at $358.49 on Monday. The stock’s 50-day moving average price is $358.39 and its 200 day moving average price is $370.46. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $137.09 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 2.10 and a beta of 0.87. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87.

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

Stryker Announces Dividend

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

Insider Activity

In related news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 252,118 shares of company stock worth $91,504,172. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of analyst reports. UBS Group set a $408.00 price objective on Stryker in a report on Monday, October 13th. Barclays reissued an “overweight” rating and issued a $469.00 price target on shares of Stryker in a research report on Monday, February 2nd. Evercore set a $390.00 price objective on shares of Stryker in a report on Monday, January 5th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Finally, Wells Fargo & Company raised their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $426.94.

About Stryker

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.