Citizens Financial Group Inc. RI Has $21.56 Million Stock Position in 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 lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,920 shares of the medical technology company's stock after purchasing an additional 1,817 shares during the period. Citizens Financial Group Inc. RI's holdings in Stryker were worth $21,561,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Continuum Advisory LLC grew its position in Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after buying an additional 29 shares in the last quarter. Oakworth Capital Inc. grew its position in Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after buying an additional 29 shares in the last quarter. Strategy Asset Managers LLC grew its position in Stryker by 1.4% during the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock worth $794,000 after buying an additional 29 shares in the last quarter. Rinkey Investments grew its position in Stryker by 1.1% during the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after buying an additional 30 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its position in Stryker by 0.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after buying an additional 30 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 0.4%

SYK stock traded up $1.36 during trading on Friday, hitting $377.73. The company had a trading volume of 972,332 shares, compared to its average volume of 1,333,167. 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 firm has a 50-day moving average price of $387.17 and a 200-day moving average price of $380.08. Stryker Corporation has a 12 month low of $322.03 and a 12 month high of $406.19. The stock has a market cap of $144.41 billion, a price-to-earnings ratio of 50.03, a PEG 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 the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the company posted $2.81 EPS. Stryker's revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on 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 completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Needham & Company LLC lifted their price objective on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

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.