Deutsche Bank AG Grows Position in Stryker Corporation (NYSE:SYK)

Key Points

• Deutsche Bank AG increased its holdings in Stryker Corporation by 4.8% during Q1, owning approximately 0.24% of the company worth $337 million after acquiring an additional 41,867 shares.
• Several institutional investors, including GAMMA Investing LLC and Vanguard Group, have significantly raised their stakes in Stryker, with 77.09% of the stock now owned by such investors.
• Stryker announced a quarterly dividend of $0.84, representing a 0.9% yield, and reported earnings of $3.13 per share for Q2, exceeding consensus estimates.

Deutsche Bank AG raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 905,745 shares of the medical technology company's stock after buying an additional 41,867 shares during the period. Deutsche Bank AG owned about 0.24% of Stryker worth $337,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Stryker in the fourth quarter worth $154,140,000. Northern Trust Corp increased its stake in shares of Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after buying an additional 420,153 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after buying an additional 361,136 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Stryker by 79.2% in the fourth quarter. Voya Investment Management LLC now owns 706,724 shares of the medical technology company's stock worth $254,412,000 after buying an additional 312,434 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a research note on Monday. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC increased their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Citigroup reissued a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 sale, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Stryker Stock Up 0.3%

Stryker stock opened at $376.21 on Friday. The firm has a market capitalization 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. The company has a 50-day simple moving average of $387.27 and a 200-day simple moving average of $380.27. Stryker Corporation has a one year low of $320.78 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

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. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.81 earnings per share. As a group, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's payout ratio is currently 44.50%.

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.

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