Charles Schwab Investment Management Inc. Buys 30,329 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Stryker Corporation by 1.5%, acquiring an additional 30,329 shares to a total of 2,015,374 shares, valued at approximately $750 million.
• Stryker reported a better-than-expected quarterly earnings of $3.13 per share and revenue of $6.02 billion, exceeding analyst predictions for the period.
• The company announced a quarterly dividend of $0.84 per share with a yield of 0.9%, payable on October 31st to investors of record by September 30th.

Charles Schwab Investment Management Inc. boosted its position in Stryker Corporation (NYSE:SYK - Free Report) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,015,374 shares of the medical technology company's stock after buying an additional 30,329 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.53% of Stryker worth $750,223,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new stake in Stryker during the first quarter worth $32,000. City Holding Co. lifted its stake in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in Stryker during the 1st quarter worth $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker in the 4th quarter worth $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.3%

NYSE:SYK opened at $376.21 on Friday. The company has a market cap of $143.83 billion, a P/E ratio of 49.83, a P/E/G ratio of 2.72 and a beta of 0.91. Stryker Corporation has a 1 year low of $320.78 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The stock's fifty day moving average price is $387.27 and its two-hundred day moving average price is $380.27.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion for 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 EPS. As a group, analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SYK shares. Needham & Company LLC raised their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

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.

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