Capital Research Global Investors Has $2.32 Billion Stock Position in Stryker Corporation $SYK

Key Points

• Capital Research Global Investors trimmed its stake in Stryker by 7.3% to 6,274,304 shares, a position worth about $2.32 billion (≈1.64% of the company) after selling 492,303 shares in Q3.
• Stryker beat quarterly expectations, reporting $4.47 EPS vs. $4.40 expected and revenue of $7.17 billion (up 11.4% year-over-year), while analysts project roughly 13.47 EPS for the fiscal year.
• Director Ronda E. Stryker sold 250,000 shares for about $90.73 million, reducing her ownership by 9.23%; insiders collectively own 5.20% of the company.

Capital Research Global Investors cut its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,274,304 shares of the medical technology company's stock after selling 492,303 shares during the quarter. Capital Research Global Investors owned approximately 1.64% of Stryker worth $2,319,422,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SYK. Armstrong Advisory Group Inc. boosted its stake in shares of Stryker by 12.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company's stock valued at $91,000 after purchasing an additional 27 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company's stock valued at $704,000 after buying an additional 27 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Stryker by 3.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company's stock worth $275,000 after buying an additional 28 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of Stryker by 2.3% during the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company's stock worth $470,000 after buying an additional 28 shares in the last quarter. Finally, Enterprise Financial Services Corp increased its holdings in shares of Stryker by 4.3% during the second quarter. Enterprise Financial Services Corp now owns 705 shares of the medical technology company's stock worth $279,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

NYSE SYK opened at $366.05 on Tuesday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The company has a fifty day moving average price of $365.72 and a 200-day moving average price of $368.71. The firm has a market cap of $140.08 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 2.13 and a beta of 0.85.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts' consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the business earned $4.01 EPS. The company's revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker's dividend payout ratio is 41.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SYK shares. The Goldman Sachs Group set a $399.00 price objective on Stryker in a report on Friday, January 9th. Robert W. Baird set a $437.00 target price on Stryker in a research report on Friday, January 30th. TD Cowen lowered Stryker from a "buy" rating to a "hold" rating and set a $387.00 price target on the stock. in a research note on Monday, January 26th. Citigroup reiterated a "market outperform" rating on shares of Stryker in a research report on Friday, January 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $428.61.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company's stock.

About Stryker

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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