DnB Asset Management AS Raises Stock Holdings in Stryker Co. (NYSE:SYK)

DnB Asset Management AS lifted its position in Stryker Co. (NYSE:SYK - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,002 shares of the medical technology company's stock after acquiring an additional 2,971 shares during the period. DnB Asset Management AS's holdings in Stryker were worth $22,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 252,188 shares during the last quarter. State Street Corp increased its holdings in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock worth $5,279,788,000 after buying an additional 316,404 shares during the period. Geode Capital Management LLC lifted its stake in Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company's stock valued at $2,484,893,000 after acquiring an additional 165,490 shares during the period. Norges Bank purchased a new stake in shares of Stryker in the 4th quarter valued at $1,710,744,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company's stock worth $714,715,000 after acquiring an additional 48,819 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have commented on SYK. JPMorgan Chase & Co. upped their price target on shares of Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their target price on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Canaccord Genuity Group boosted their price target on Stryker from $420.00 to $435.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Argus set a $450.00 price objective on Stryker in a research report on Monday, February 3rd. Finally, StockNews.com lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $421.90.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

Stryker Price Performance

Shares of SYK traded up $2.20 during trading hours on Wednesday, hitting $375.50. 591,745 shares of the stock were exchanged, compared to its average volume of 1,291,223. The stock's 50-day moving average price is $383.41 and its two-hundred day moving average price is $374.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market cap of $143.32 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the company earned $3.46 EPS. Research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio (DPR) is currently 43.30%.

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.