KBC Group NV Boosts Holdings in Stryker Co. (NYSE:SYK)

KBC Group NV increased its stake in shares of Stryker Co. (NYSE:SYK) by 0.0% in the 4th quarter, Holdings Channel reports. The firm owned 446,459 shares of the medical technology company’s stock after purchasing an additional 121 shares during the period. KBC Group NV’s holdings in Stryker were worth $160,747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Parnassus Investments LLC acquired a new position in shares of Stryker during the third quarter valued at approximately $762,798,000. International Assets Investment Management LLC increased its position in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP acquired a new position in Stryker in the 3rd quarter valued at $143,392,000. State Street Corp lifted its holdings in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Finally, FMR LLC boosted its stake in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by company insiders.

Stryker Stock Up 0.1 %

Shares of NYSE SYK opened at $394.08 on Monday. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The business’s 50 day moving average is $376.11 and its two-hundred day moving average is $360.98. The firm has a market cap of $150.23 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.68 and a beta of 0.95. 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 (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 firm had revenue of $5.49 billion for 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%. Stryker’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. Research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYK. Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

About Stryker

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.