Assenagon Asset Management S.A. Sells 39 Shares of Stryker Co. (NYSE:SYK)

Assenagon Asset Management S.A. lessened its position in shares of Stryker Co. (NYSE:SYK) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,265 shares of the medical technology company’s stock after selling 39 shares during the period. Assenagon Asset Management S.A.’s holdings in Stryker were worth $3,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC increased its stake in Stryker by 101.8% in the second quarter. AE Wealth Management LLC now owns 3,414 shares of the medical technology company’s stock valued at $1,162,000 after purchasing an additional 1,722 shares in the last quarter. Pacer Advisors Inc. increased its position in Stryker by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 27,438 shares of the medical technology company’s stock valued at $9,336,000 after buying an additional 2,122 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Stryker by 69.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 87,244 shares of the medical technology company’s stock worth $29,685,000 after buying an additional 35,833 shares during the period. ProShare Advisors LLC boosted its holdings in Stryker by 6.6% in the second quarter. ProShare Advisors LLC now owns 51,470 shares of the medical technology company’s stock worth $17,513,000 after acquiring an additional 3,206 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in Stryker by 1.6% in the second quarter. Epoch Investment Partners Inc. now owns 4,276 shares of the medical technology company’s stock valued at $1,455,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

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 shares were 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 $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Citigroup upped their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial upped their price objective on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Barclays lifted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Up 3.2 %

NYSE SYK opened at $395.86 on Wednesday. The stock has a market capitalization of $150.91 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 2.63 and a beta of 0.95. The business’s fifty day moving average is $375.61 and its 200-day moving average is $359.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a one year low of $307.23 and a one year high of $398.20.

Stryker (NYSE:SYK) last released 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the company earned $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.85%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is 36.01%.

Stryker Profile

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.