Stryker Corporation (NYSE:SYK) Shares Bought by Associated Banc Corp

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

A number of other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after buying an additional 54,693 shares during the period. Northern Trust Corp grew its holdings in Stryker by 13.2% during the 4th 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 in the last quarter. GAMMA Investing LLC grew its holdings in Stryker by 43,226.8% during the 1st 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 in the last quarter. Invesco Ltd. increased its position in shares of Stryker by 15.3% in the 4th quarter. Invesco Ltd. now owns 2,007,105 shares of the medical technology company's stock valued at $722,658,000 after purchasing an additional 266,587 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Stryker by 14.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,003,006 shares of the medical technology company's stock valued at $721,182,000 after purchasing an additional 257,035 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Needham & Company LLC boosted their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Roth Mkm lifted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Performance

Shares of SYK traded up $1.36 during mid-day trading on Friday, hitting $377.73. 972,332 shares of the company's stock were exchanged, compared to its average volume of 1,333,167. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a fifty-two week low of $322.03 and a fifty-two week high of $406.19. The business's 50 day moving average is $387.17 and its two-hundred day moving average is $380.15. The firm has a market capitalization of $144.41 billion, a P/E ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The company 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% on a year-over-year basis. During the same period last year, the firm earned $2.81 EPS. On average, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio is presently 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.