BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 11,111 Shares of Stryker Corporation $SYK

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. has increased its stake in Stryker Corporation by 22.5%, acquiring an additional 11,111 shares, bringing its total to 60,472 shares valued at approximately $22.5 million.
• Stryker's quarterly earnings exceeded expectations, reporting $3.13 EPS and revenues of $6.02 billion, reflecting an 11.1% year-over-year increase.
• Recent analyst ratings have been positive, with several firms setting price targets between $445.00 and $456.00, indicating a consensus “Moderate Buy” rating for Stryker's stock.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 22.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,472 shares of the medical technology company's stock after purchasing an additional 11,111 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Stryker were worth $22,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC boosted its position in shares of Stryker by 8.9% during the first quarter. Aptus Capital Advisors LLC now owns 100,987 shares of the medical technology company's stock worth $37,592,000 after buying an additional 8,272 shares during the period. Brooklyn Investment Group raised its position in Stryker by 8.5% in the 1st quarter. Brooklyn Investment Group now owns 3,092 shares of the medical technology company's stock valued at $1,151,000 after buying an additional 243 shares during the last quarter. FCG Investment Co bought a new stake in Stryker in the 1st quarter valued at approximately $1,403,000. Seven Mile Advisory boosted its position in Stryker by 20.1% during the 1st quarter. Seven Mile Advisory now owns 896 shares of the medical technology company's stock worth $334,000 after acquiring an additional 150 shares during the last quarter. Finally, Corient IA LLC bought a new position in shares of Stryker during the 1st quarter worth approximately $744,000. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYK shares. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Stryker Stock Up 0.9%

SYK stock opened at $381.87 on Monday. The business's 50 day simple moving average is $386.78 and its 200 day simple moving average is $379.44. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The firm has a market capitalization of $145.99 billion, a PE ratio of 50.58, a PEG ratio of 2.78 and a beta of 0.91. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 earnings per share. As a group, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be 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 is Tuesday, September 30th. Stryker's dividend payout ratio is currently 44.50%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director 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 at this hyperlink. 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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