13,500 Shares in Stryker Corporation (NYSE:SYK) Bought by Covea Finance

Covea Finance bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,500 shares of the medical technology company's stock, valued at approximately $5,025,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Norges Bank bought a new position in shares of Stryker during the fourth quarter worth $1,710,744,000. GAMMA Investing LLC boosted its position in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. Raymond James Financial Inc. bought a new position in Stryker during the fourth quarter valued at $353,394,000. FMR LLC lifted its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after purchasing an additional 595,061 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Trading Up 0.6%

SYK stock opened at $375.44 on Friday. The company has a market capitalization of $143.30 billion, a PE ratio of 50.73, a P/E/G ratio of 2.81 and a beta of 0.91. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The firm's 50-day moving average is $374.95 and its 200 day moving average is $375.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Analyst Ratings Changes

Several equities analysts have commented on SYK shares. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup reiterated a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Finally, Truist Financial increased their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $427.30.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by insiders.

Stryker Company 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.

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