Allianz SE Acquires 1,151 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Allianz SE increased its holdings in Stryker Corporation by 35.5%, acquiring an additional 1,151 shares to total 4,391 shares valued at $1,635,000.
• Stryker reported $3.13 earnings per share for its latest quarter, surpassing estimates and achieving a revenue of $6.02 billion, reflecting an 11.1% year-over-year growth.
• The company recently announced a quarterly dividend of $0.84, representing a 0.9% yield with a dividend payout ratio of 44.50%.

Allianz SE lifted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 35.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,391 shares of the medical technology company's stock after purchasing an additional 1,151 shares during the quarter. Allianz SE's holdings in Stryker were worth $1,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of Stryker in the 4th quarter valued at approximately $26,000. Goodman Advisory Group LLC bought a new position in shares of Stryker in the first quarter valued at approximately $32,000. City Holding Co. boosted its holdings in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the 1st quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in Stryker in the 4th quarter worth $42,000. Institutional investors own 77.09% of the company's stock.

Stryker Trading Down 3.6%

SYK stock opened at $378.62 on Monday. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a market capitalization of $144.52 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company's 50-day simple moving average is $387.46 and its 200 day simple moving average is $380.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.81 earnings per share. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday. Roth Mkm lifted their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $429.35.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.20% of the stock is currently owned by corporate 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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