Amundi Buys 79,667 Shares of Stryker Corporation $SYK

Key Points

• Amundi increased its Stryker stake by 8.2%, purchasing 79,667 additional shares to hold 1.05 million shares valued at approximately $346.3 million. Institutional investors and hedge funds own 77.09% of the company.
• Stryker’s latest quarterly results fell short of expectations, with earnings of $2.60 per share versus the $2.98 consensus and revenue of $6.02 billion versus $6.34 billion expected. Revenue still increased 2.6% year over year.
• The company declared a quarterly dividend of $0.88 per share, representing a 1.0% annualized yield, while insiders sold more than 323,000 shares worth approximately $100.7 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus with an average price target of $393.39.

Amundi lifted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053,906 shares of the medical technology company's stock after purchasing an additional 79,667 shares during the quarter. Amundi owned about 0.27% of Stryker worth $346,303,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SYK. Godfrey Financial Associates Inc. bought a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. Sankala Group LLC purchased a new stake in Stryker in the fourth quarter worth $26,000. United Financial Planning Group LLC bought a new stake in shares of Stryker in the third quarter valued at $27,000. Atlas Capital Advisors Inc. purchased a new position in shares of Stryker during the 4th quarter valued at $27,000. Finally, DJE Kapital AG purchased a new position in shares of Stryker during the 4th quarter valued at $28,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 1.7%

SYK opened at $352.35 on Thursday. The business's fifty day simple moving average is $316.38 and its 200 day simple moving average is $335.11. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $403.22. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The stock has a market cap of $135.08 billion, a PE ratio of 40.78, a P/E/G ratio of 2.22 and a beta of 0.77.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.38). The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.84 EPS. As a group, research analysts expect that Stryker Corporation will post 14.99 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Stryker's dividend payout ratio (DPR) is presently 40.74%.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 310,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the sale, the director owned 1,924,880 shares of the company's stock, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president owned 10,582 shares of the company's stock, valued at $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,264 shares of company stock worth $100,659,489 in the last 90 days. 4.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on SYK. BTIG Research set a $371.00 price target on Stryker in a research note on Monday, July 13th. Robert W. Baird set a $385.00 price target on shares of Stryker in a research note on Friday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of Stryker from $445.00 to $400.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Leerink Partners reduced their target price on Stryker from $410.00 to $407.00 and set an "outperform" rating for the company in a report on Friday, June 5th. Finally, Barclays cut their price objective on shares of Stryker from $469.00 to $394.00 and set an "overweight" rating for the company in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $393.39.

Stryker Profile

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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