Rhenman & Partners Asset Management AB Invests $1.50 Million in Stryker Co. (NYSE:SYK)

Rhenman & Partners Asset Management AB acquired a new stake in Stryker Co. (NYSE:SYKFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the medical technology company’s stock, valued at approximately $1,497,000.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC purchased a new position in shares of Stryker in the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the last quarter. Rogco LP purchased a new stake in shares of Stryker in the fourth quarter valued at about $30,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC purchased a new position in shares of Stryker during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SYK shares. Royal Bank of Canada increased their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Robert W. Baird lifted their price objective on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. UBS Group upped their target price on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $370.58.

Get Our Latest Research Report on SYK

Stryker Stock Up 0.8 %

Shares of SYK traded up $2.61 during midday trading on Tuesday, reaching $342.00. 1,729,905 shares of the company were exchanged, compared to its average volume of 1,352,565. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The stock has a 50-day moving average price of $338.15 and a 200-day moving average price of $327.00. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a market cap of $130.28 billion, a price-to-earnings ratio of 38.74, a P/E/G ratio of 2.69 and a beta of 0.92.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the company posted $2.14 EPS. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts expect that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Stryker Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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