Nordea Investment Management AB Acquires 132,513 Shares of Stryker Co. (NYSE:SYK)

Nordea Investment Management AB boosted its position in Stryker Co. (NYSE:SYK) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 971,735 shares of the medical technology company’s stock after acquiring an additional 132,513 shares during the period. Nordea Investment Management AB owned 0.25% of Stryker worth $350,485,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parnassus Investments LLC purchased a new stake in Stryker in the 3rd quarter valued at about $762,798,000. International Assets Investment Management LLC raised its position in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares during the period. RTW Investments LP bought a new position in shares of Stryker in the third quarter worth $143,392,000. American Century Companies Inc. increased its position in shares of Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares during the period. Finally, State Street Corp grew its position in shares of Stryker by 2.2% during 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. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Finally, Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Price Performance

Shares of Stryker stock opened at $361.52 on Monday. The firm has a market cap of $137.82 billion, a PE ratio of 38.75, a PEG ratio of 2.82 and a beta of 0.95. The stock has a 50 day moving average of $375.23 and a 200 day moving average of $357.19. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $292.96 and a 12 month high of $398.20.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. On average, research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.

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.