Norges Bank Buys Shares of 3,024,771 Stryker Co. (SYK)

Norges Bank purchased a new position in shares of Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,024,771 shares of the medical technology company’s stock, valued at approximately $474,132,000. Norges Bank owned about 0.81% of Stryker at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. ERTS Wealth Advisors LLC bought a new stake in Stryker in the fourth quarter valued at approximately $25,000. Northwest Wealth Management LLC boosted its holdings in Stryker by 103.6% in the fourth quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 86 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in Stryker in the fourth quarter valued at approximately $28,000. Horan Securities Inc. bought a new stake in Stryker in the fourth quarter valued at approximately $30,000. Finally, Truehand Inc bought a new stake in Stryker in the fourth quarter valued at approximately $30,000. Institutional investors own 74.61% of the company’s stock.

Several analysts recently commented on the company. Zacks Investment Research cut Stryker from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a report on Friday, January 18th. Wells Fargo & Co increased their price target on Stryker from $214.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Royal Bank of Canada increased their price target on Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Finally, Barclays set a $203.00 price target on Stryker and gave the stock a “buy” rating in a report on Friday, March 8th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $192.13.

In related news, Chairman Kevin Lobo sold 41,750 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $194.11, for a total value of $8,104,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 180 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $176.77, for a total value of $31,818.60. The disclosure for this sale can be found here. Insiders have sold 130,455 shares of company stock worth $24,723,292 over the last ninety days. 7.20% of the stock is owned by insiders.

Shares of NYSE:SYK traded up $0.02 during trading on Friday, reaching $180.26. 3,396,733 shares of the stock were exchanged, compared to its average volume of 1,243,721. The company has a quick ratio of 1.41, a current ratio of 2.02 and a debt-to-equity ratio of 0.72. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $199.85. The firm has a market capitalization of $67.26 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.19 and a beta of 0.88.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Stryker had a return on equity of 27.60% and a net margin of 26.12%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.73 billion. Equities research analysts anticipate that Stryker Co. will post 8.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, March 28th. Stryker’s payout ratio is 28.45%.

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Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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