Handelsbanken Fonder AB Has $69.74 Million Holdings in Stryker Co. (NYSE:SYK)

Handelsbanken Fonder AB raised its holdings in Stryker Co. (NYSE:SYK) by 47.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 193,047 shares of the medical technology company’s stock after acquiring an additional 62,203 shares during the period. Handelsbanken Fonder AB owned about 0.05% of Stryker worth $69,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SYK. Centennial Bank AR increased its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker during the first quarter worth $39,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the third quarter worth $42,000. Accent Capital Management LLC bought a new stake in Stryker in the 4th quarter valued at $60,000. Finally, Sachetta LLC boosted its stake in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on SYK shares. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group upped their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Morgan Stanley increased their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Barclays lifted their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $379.37.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock traded down $0.39 during mid-day trading on Friday, hitting $351.22. 676,931 shares of the company’s stock traded hands, compared to its average volume of 1,270,464. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $349.77 and a two-hundred day simple moving average of $343.06. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The stock has a market cap of $133.80 billion, a price-to-earnings ratio of 40.09, a P/E/G ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) 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 company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the company posted $2.54 EPS. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.91%. Stryker’s payout ratio is currently 36.53%.

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.