ABC Arbitrage SA Buys Shares of 2,985 Stryker Corporation $SYK

ABC Arbitrage SA acquired a new stake in Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,985 shares of the medical technology company’s stock, valued at approximately $1,103,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Stryker in the 2nd quarter worth $1,882,173,000. Alliancebernstein L.P. grew its holdings in shares of Stryker by 307.6% during the second 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 in the last quarter. Corient Private Wealth LLC grew its holdings in Stryker by 104.4% in the 2nd 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. ABN AMRO Bank N.V. purchased a new position in Stryker in the second quarter valued at approximately $191,047,000. Finally, Vanguard Group Inc. raised its holdings 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 valued at $13,253,831,000 after buying an additional 440,607 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 252,118 shares of company stock worth $91,504,172 in the last ninety days. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Barclays restated an “overweight” rating and issued a $469.00 price target on shares of Stryker in a research report on Monday, February 2nd. TD Cowen downgraded Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a research note on Monday, January 26th. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a report on Friday, December 19th. Finally, Truist Financial decreased their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.94.

Stryker Stock Performance

Shares of SYK stock opened at $363.76 on Thursday. The stock has a market cap of $139.11 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.87. The stock has a 50-day moving average of $357.92 and a 200-day moving average of $369.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87.

Stryker (NYSE:SYK) last posted 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. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the prior year, the firm earned $4.01 earnings per share. Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

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.