Norges Bank Acquires Shares of 4,751,407 Stryker Co. (NYSE:SYK)

Norges Bank purchased a new position in shares of Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,751,407 shares of the medical technology company's stock, valued at approximately $1,710,744,000. Norges Bank owned approximately 1.25% of Stryker at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYK. Swedbank AB raised its position in Stryker by 10.9% during the third quarter. Swedbank AB now owns 51,070 shares of the medical technology company's stock worth $18,450,000 after acquiring an additional 5,032 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Stryker during the third quarter worth about $317,000. Avestar Capital LLC raised its holdings in shares of Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company's stock valued at $1,065,000 after acquiring an additional 31 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Stryker by 11.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,468 shares of the medical technology company's stock valued at $2,698,000 after purchasing an additional 792 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Stryker by 162.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,283 shares of the medical technology company's stock worth $52,124,000 after buying an additional 89,283 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SYK shares. Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. Stifel Nicolaus increased their price target on Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Truist Financial boosted their price objective on Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $421.90.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Stock Down 0.9 %

SYK traded down $3.16 during trading hours on Friday, hitting $364.38. 1,274,307 shares of the company's stock were exchanged, compared to its average volume of 1,289,456. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The firm has a market cap of $139.08 billion, a P/E ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm has a 50 day moving average of $384.08 and a 200 day moving average of $374.32.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker's dividend payout ratio (DPR) is 43.30%.

Stryker 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.