AMF Tjanstepension AB Decreases Stake in Stryker Corporation $SYK

AMF Tjanstepension AB lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 50.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,351 shares of the medical technology company’s stock after selling 97,466 shares during the period. AMF Tjanstepension AB’s holdings in Stryker were worth $35,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYK. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker during the 2nd quarter worth $26,000. Clayton Financial Group LLC acquired a new position in Stryker during the third quarter worth about $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the second quarter valued at about $28,000. Sachetta LLC lifted its position in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the period. Finally, Kilter Group LLC purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of Stryker 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 completion of the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 522,118 shares of company stock worth $185,381,932 over the last quarter. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. Barclays raised their price objective on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. BTIG Research reissued a “buy” rating and issued a $410.00 target price on shares of Stryker in a report on Friday, November 14th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Sanford C. Bernstein increased their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $430.00.

Stryker Price Performance

NYSE:SYK opened at $354.74 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm has a market cap of $135.66 billion, a price-to-earnings ratio of 46.62, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. The company’s 50-day moving average is $359.77 and its two-hundred day moving average is $372.81. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.87 earnings per share. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is currently 46.25%.

Stryker Profile

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.