Alecta Tjanstepension Omsesidigt Purchases New Holdings in Stryker Co. (NYSE:SYK)

Alecta Tjanstepension Omsesidigt acquired a new position in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 176,500 shares of the medical technology company’s stock, valued at approximately $63,556,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Capital LLC increased its stake in Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after buying an additional 5,841 shares during the period. Zhang Financial LLC raised its holdings in Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA boosted its holdings in Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in Stryker during the 4th quarter worth approximately $587,000. Finally, Berkshire Bank raised its stake in shares of Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after buying an additional 1,030 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Stryker stock opened at $391.54 on Thursday. The stock has a fifty day moving average price of $379.42 and a 200 day moving average price of $370.37. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a market capitalization of $149.40 billion, a P/E ratio of 50.46, a PEG ratio of 2.93 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 in the prior year, the firm posted $3.46 earnings per share. Equities research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction 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 transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % 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 corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Robert W. Baird boosted their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $422.15.

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.