Goldman Sachs Group Inc. Acquires 261,058 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Goldman Sachs Group Inc. increased its holdings in Stryker Corporation by 13.1% in Q1, owning approximately 2,252,895 shares valued at $838.6 million.
• Other institutional investors have also significantly increased their stakes in Stryker, with GAMMA Investing LLC dramatically boosting its stake by 43,226.8%.
• According to analysts, Stryker has received multiple upgrades, with price targets raised, including from Evercore ISI which increased it to $415.00, indicating a positive outlook for the stock.

Goldman Sachs Group Inc. boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,252,895 shares of the medical technology company's stock after purchasing an additional 261,058 shares during the period. Goldman Sachs Group Inc. owned approximately 0.59% of Stryker worth $838,640,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Continuum Advisory LLC raised its position in Stryker by 5.8% during the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares during the last quarter. Oakworth Capital Inc. raised its holdings in shares of Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after acquiring an additional 29 shares in the last quarter. Rinkey Investments lifted its stake in Stryker by 1.1% in the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after acquiring an additional 30 shares during the period. Tritonpoint Wealth LLC boosted its holdings in Stryker by 0.7% in the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock valued at $1,508,000 after acquiring an additional 30 shares in the last quarter. Finally, Cornerstone Advisory LLC raised its holdings in Stryker by 0.6% in the 4th quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company's stock worth $2,024,000 after purchasing an additional 31 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction 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 transaction, the director directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.90% of the company's stock.

Stryker Stock Up 0.4%

Shares of SYK stock traded up $1.36 during mid-day trading on Friday, hitting $377.73. The company's stock had a trading volume of 972,332 shares, compared to its average volume of 1,333,167. 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 Corporation has a 52-week low of $322.03 and a 52-week 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. The business has a 50-day moving average price of $387.17 and a 200 day moving average price of $380.15.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the prior year, the business earned $2.81 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is 44.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SYK shares. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Roth Mkm upped their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company raised their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

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.