Norges Bank Takes Position in Stryker Co. (NYSE:SYK)

Norges Bank purchased a new stake in Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,751,407 shares of the medical technology company’s stock, valued at approximately $1,710,744,000.

A number of other institutional investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the fourth quarter worth $25,000. Dunhill Financial LLC boosted its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new position in Stryker in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker during the 4th quarter valued at $33,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.5 %

Shares of NYSE:SYK opened at $367.34 on Thursday. The stock has a market cap of $140.17 billion, a PE ratio of 47.34, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a quick ratio of 1.32, a current ratio of 1.95 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 business has a 50 day moving average of $384.74 and a 200-day moving average of $374.29.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $3.46 EPS. As a group, equities research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Finally, Truist Financial upped their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Buying and Selling

In other news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction 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 represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

About Stryker

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.