Oddo BHF Asset Management Sas Invests $8.91 Million in Stryker Co. (NYSE:SYK)

Oddo BHF Asset Management Sas acquired a new stake in Stryker Co. (NYSE:SYK) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 24,656 shares of the medical technology company’s stock, valued at approximately $8,907,000.

A number of other hedge funds have also recently bought and sold shares of the company. Synovus Financial Corp grew its position in Stryker by 17.4% in the third quarter. Synovus Financial Corp now owns 14,797 shares of the medical technology company’s stock worth $5,346,000 after buying an additional 2,191 shares during the last quarter. Tidal Investments LLC raised its position in shares of Stryker by 13.9% during the third quarter. Tidal Investments LLC now owns 17,478 shares of the medical technology company’s stock worth $6,314,000 after purchasing an additional 2,139 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of Stryker by 13.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 44,795 shares of the medical technology company’s stock valued at $16,183,000 after purchasing an additional 5,361 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Stryker in the 3rd quarter valued at $245,000. Finally, World Investment Advisors LLC lifted its position in shares of Stryker by 126.1% in the 3rd quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company’s stock valued at $2,941,000 after acquiring an additional 4,541 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYK. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Truist Financial upped their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $404.35.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Stock Down 0.3 %

NYSE:SYK opened at $375.01 on Friday. The stock’s fifty day simple moving average is $372.88 and its 200-day simple moving average is $354.65. The firm has a market capitalization of $142.96 billion, a P/E ratio of 40.19, a P/E/G ratio of 2.84 and a beta of 0.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 EPS. Equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is 34.30%.

Stryker Company 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.