Credit Agricole S A Sells 154,008 Shares of Stryker Corporation $SYK

Key Points

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Credit Agricole S A lowered its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 22.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,593 shares of the medical technology company's stock after selling 154,008 shares during the quarter. Stryker comprises 0.6% of Credit Agricole S A's holdings, making the stock its 22nd largest holding. Credit Agricole S A owned 0.14% of Stryker worth $198,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Stryker by 11.7% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 61,466 shares of the medical technology company's stock worth $22,895,000 after acquiring an additional 6,431 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Stryker by 205.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,271 shares of the medical technology company's stock worth $20,202,000 after acquiring an additional 36,502 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in Stryker by 9.1% in the first quarter. Legacy Financial Advisors Inc. now owns 1,199 shares of the medical technology company's stock worth $446,000 after acquiring an additional 100 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Stryker by 1.6% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,001 shares of the medical technology company's stock worth $745,000 after acquiring an additional 32 shares in the last quarter. Finally, Colonial Trust Advisors boosted its holdings in Stryker by 0.7% in the first quarter. Colonial Trust Advisors now owns 29,602 shares of the medical technology company's stock worth $11,019,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Price Performance

Shares of SYK stock opened at $381.91 on Tuesday. The stock has a 50 day moving average of $386.77 and a 200 day moving average of $379.38. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a market cap of $146.01 billion, a P/E ratio of 50.58, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during 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%. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $2.81 earnings per share. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYK. JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Needham & Company LLC raised their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Evercore ISI raised their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company raised their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company's stock.

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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