Citizens Financial Group Inc. RI Purchases 1,817 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Citizens Financial Group Inc. RI increased its stake in Stryker Corporation by 3.2%, acquiring an additional 1,817 shares, bringing its total holdings to 57,920 shares valued at approximately $21.56 million.
• Multiple analysts have raised their target prices for Stryker Corporation, with Evercore ISI increasing their target from $390 to $415 and Wells Fargo lifting theirs from $435 to $445, indicating strong confidence in the company's performance.
• Stryker recently reported $3.13 earnings per share for the last quarter, exceeding expectations, with revenues also surpassing estimates at $6.02 billion, reflecting an 11.1% year-over-year increase.

Citizens Financial Group Inc. RI grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,920 shares of the medical technology company's stock after buying an additional 1,817 shares during the period. Citizens Financial Group Inc. RI's holdings in Stryker were worth $21,561,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC acquired a new stake in Stryker in the fourth quarter valued at about $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Stryker during the first quarter valued at about $32,000. City Holding Co. raised its position 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 acquiring an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker during the first quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Stryker during the fourth quarter worth about $42,000. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Stryker Trading Down 0.1%

SYK opened at $381.04 on Wednesday. The stock has a market cap of $145.68 billion, a PE ratio of 50.47, a PEG ratio of 2.78 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average of $387.49 and a 200-day moving average of $380.36. Stryker Corporation has a 52 week low of $316.01 and a 52 week high of $406.19.

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, beating 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 company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $2.81 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 30th. Stryker's dividend payout ratio (DPR) is 44.50%.

About Stryker

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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