Stryker Corporation $SYK Shares Bought by Parallel Advisors LLC

by · The Markets Daily

Parallel Advisors LLC grew its holdings in shares of Stryker Corporation (NYSE:SYK – Free Report) by 11.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,959 shares of the medical technology company’s stock after buying an additional 2,343 shares during the period. Parallel Advisors LLC’s holdings in Stryker were worth $8,118,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’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 sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SYK. BTIG Research boosted their price target on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group reiterated a “buy” rating and set a $465.00 price objective on shares of Stryker in a research note on Wednesday. Truist Financial dropped their target price on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a research note on Tuesday, January 6th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $428.61.

Check Out Our Latest Stock Analysis on SYK

Stryker Stock Performance

Shares of SYK opened at $364.11 on Friday. The firm’s 50 day moving average is $365.45 and its 200-day moving average is $369.00. The stock has a market capitalization of $139.34 billion, a P/E ratio of 43.35, a P/E/G ratio of 2.13 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87.

Stryker (NYSE:SYK – Get Free Report) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.01 earnings per share. Equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio is currently 41.90%.

Stryker Profile

(Free Report)

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.

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