Dynamic Technology Lab Private Ltd Invests $838,000 in Stryker Corporation $SYK

Dynamic Technology Lab Private Ltd purchased a new position in shares of Stryker Corporation (NYSE:SYK) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,267 shares of the medical technology company’s stock, valued at approximately $838,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Vanguard Group Inc. increased its position in Stryker by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after buying an additional 272,828 shares during the period. State Street Corp boosted its position in shares of Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after acquiring an additional 150,204 shares during the period. Geode Capital Management LLC grew its stake in shares of Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after acquiring an additional 79,654 shares in the last quarter. Alliancebernstein L.P. increased its position in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares during the period. Finally, Norges Bank acquired a new stake in Stryker in the 2nd quarter worth about $1,882,173,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.20% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $366.05 on Tuesday. The company has a 50 day moving average of $365.72 and a 200-day moving average of $368.71. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a market cap of $140.08 billion, a PE ratio of 43.58, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period last year, the firm posted $4.01 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SYK shares. TD Cowen lowered shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a research report on Monday, January 26th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. UBS Group increased their price target on Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Truist Financial lowered their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Finally, Robert W. Baird set a $437.00 price objective on Stryker in a report on Friday, January 30th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $428.61.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.