Associated Banc Corp Purchases 1,368 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Associated Banc Corp increased its holdings in Stryker Corporation by 6.5%, owning 22,262 shares valued at approximately $8.29 million as of the latest reporting period.
• Stryker's quarterly earnings beat analysts' estimates, reporting $3.13 EPS and revenue of $6.02 billion, an 11.1% increase compared to last year.
• The company declared a quarterly dividend of $0.84 per share, with an annualized yield of 0.9%, and a dividend payout ratio of 44.50%.

Associated Banc Corp increased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,262 shares of the medical technology company's stock after acquiring an additional 1,368 shares during the quarter. Associated Banc Corp's holdings in Stryker were worth $8,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC increased their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company boosted their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker Stock Down 1.6%

NYSE:SYK traded down $5.93 during mid-day trading on Wednesday, hitting $374.93. 1,478,016 shares of the company's stock were exchanged, compared to its average volume of 1,301,643. The company has a market cap of $143.34 billion, a PE ratio of 49.66, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a one year low of $319.07 and a one year high of $406.19. The business has a fifty day moving average price of $387.49 and a 200 day moving average price of $380.36.

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

Stryker Announces Dividend

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

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.