Skandinaviska Enskilda Banken AB publ Has $38.33 Million Position in Stryker Co. (NYSE:SYK)

Skandinaviska Enskilda Banken AB publ lowered its stake in Stryker Co. (NYSE:SYK) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,641 shares of the medical technology company’s stock after selling 698 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Stryker were worth $38,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Koshinski Asset Management Inc. bought a new stake in shares of Stryker during the 1st quarter valued at $795,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after acquiring an additional 5,565 shares during the last quarter. Norden Group LLC bought a new stake in shares of Stryker during the 1st quarter valued at $4,027,000. International Assets Investment Management LLC bought a new stake in shares of Stryker during the 1st quarter valued at $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent research reports. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. BTIG Research boosted their price target on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Finally, Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $378.58.

Stryker Price Performance

Shares of NYSE SYK opened at $364.97 on Friday. The firm has a market cap of $139.08 billion, a PE ratio of 41.66, a PEG ratio of 2.87 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The company has a fifty day moving average price of $344.61 and a 200 day moving average price of $342.90.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $2.54 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio is 36.53%.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 in the last three months. Insiders own 5.90% of the company’s stock.

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.