Skandinaviska Enskilda Banken AB publ Raises Stock Position in Stryker Corporation $SYK

by · The Cerbat Gem

Skandinaviska Enskilda Banken AB publ grew its holdings in Stryker Corporation (NYSE:SYK – Free Report) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,701 shares of the medical technology company’s stock after acquiring an additional 28,641 shares during the period. Stryker comprises approximately 0.6% of Skandinaviska Enskilda Banken AB publ’s portfolio, making the stock its 25th largest position. Skandinaviska Enskilda Banken AB publ owned 0.09% of Stryker worth $139,143,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SYK. Brighton Jones LLC increased its stake in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after buying an additional 609 shares during the period. Assetmark Inc. raised its holdings in shares of Stryker by 28.4% in the 1st quarter. Assetmark Inc. now owns 1,667 shares of the medical technology company’s stock valued at $621,000 after purchasing an additional 369 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Stryker by 9.9% during the 1st quarter. Foundations Investment Advisors LLC now owns 2,162 shares of the medical technology company’s stock worth $805,000 after purchasing an additional 195 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Stryker by 495.9% during the first quarter. Arkadios Wealth Advisors now owns 4,052 shares of the medical technology company’s stock worth $1,508,000 after purchasing an additional 3,372 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in Stryker by 3.9% in the first quarter. Natixis Advisors LLC now owns 191,989 shares of the medical technology company’s stock valued at $71,468,000 after buying an additional 7,172 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Truist Financial upped their price target on Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $434.37.

Get Our Latest Research Report on SYK

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the sale, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.8%

Shares of SYK stock opened at $372.04 on Friday. The company has a market capitalization of $142.28 billion, a P/E ratio of 49.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $369.01 and its two-hundred day moving average is $380.43. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same period last year, the company earned $2.87 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

About Stryker

(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.

See Also

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