Assenagon Asset Management S.A. Has $3.70 Million Position in Stryker Co. (NYSE:SYK)

Assenagon Asset Management S.A. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,265 shares of the medical technology company’s stock after selling 39 shares during the period. Assenagon Asset Management S.A.’s holdings in Stryker were worth $3,696,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parnassus Investments LLC bought a new position in Stryker during the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC boosted its position in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP acquired a new position in shares of Stryker in the 3rd quarter valued at $143,392,000. State Street Corp increased its position in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares in the last quarter. Finally, FMR LLC raised its stake in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Barclays increased their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Canaccord Genuity Group boosted their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial boosted their price objective on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Up 3.2 %

SYK stock opened at $395.86 on Wednesday. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The business has a 50-day simple moving average of $375.61 and a 200 day simple moving average of $359.53. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $150.91 billion, a PE ratio of 42.43, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm posted $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker’s payout ratio is 36.01%.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is owned by corporate insiders.

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.