21,938 Shares in Stryker Corporation (NYSE:SYK) Bought by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise acquired 21,938 shares of Stryker Corporation, valued at approximately $8.17 million, during the first quarter, reflecting growing institutional interest in the medical technology company.
• Stryker's stock was recently upgraded to a "buy" rating by several analysts, with an average target price of $428.55, indicating strong market confidence in the company's performance.
• Director Ronda E. Stryker sold 200,000 shares for about $75.39 million, which was a 5.53% decrease in her ownership stake, showcasing insider trading activities amidst changes in institutional investments.

Banque Cantonale Vaudoise acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 21,938 shares of the medical technology company's stock, valued at approximately $8,166,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after acquiring an additional 54,693 shares in the last quarter. FMR LLC lifted its holdings in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after acquiring an additional 168,436 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Stryker by 43,226.8% in 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. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SYK shares. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Truist Financial increased their target price 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. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $428.55.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.20% of the company's stock.

Stryker Price Performance

NYSE SYK opened at $400.43 on Tuesday. The company has a market cap of $152.84 billion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm's 50-day simple moving average is $386.49 and its two-hundred day simple moving average is $379.68.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. Research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

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.

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