Ethic Inc. Has $19.35 Million Holdings in Stryker Corporation $SYK

Key Points

• Ethic Inc. increased its stake in Stryker Corporation by 19.5% in Q1, holdings now valued at $19.35 million, reflecting strong institutional interest in the medical technology company.
• Stryker's latest earnings report showed a quarterly EPS of $3.13, surpassing estimates, with revenue up 11.1% year-over-year, at $6.02 billion.
• The company announced a quarterly dividend of $0.84 per share, indicating a 0.9% dividend yield, reinforcing its commitment to returning value to shareholders.

Ethic Inc. lifted its position in Stryker Corporation (NYSE:SYK - Free Report) by 19.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,829 shares of the medical technology company's stock after buying an additional 8,468 shares during the quarter. Ethic Inc.'s holdings in Stryker were worth $19,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted 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. Price T Rowe Associates Inc. MD lifted its stake in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after buying an additional 54,693 shares during the last quarter. Northern Trust Corp lifted 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. Goldman Sachs Group Inc. lifted its stake in shares of Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after buying an additional 261,058 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the 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 sale, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by corporate insiders.

Stryker Price Performance

NYSE:SYK traded up $3.35 during mid-day trading on Friday, reaching $381.87. 1,070,752 shares of the company were exchanged, compared to its average volume of 1,328,874. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a fifty day moving average of $386.78 and a 200 day moving average of $379.44. 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 stock has a market cap of $145.99 billion, a PE ratio of 50.58, a PEG ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the company posted $2.81 EPS. The company's revenue was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Citigroup reiterated a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Evercore ISI upped their target price on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

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.