Gulf International Bank UK Ltd Reduces Stock Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Stryker Corporation by 25.0%, owning 19,797 shares valued at approximately $7.37 million after selling 6,586 shares in the first quarter.
• Insider Director Ronda E. Stryker sold 200,000 shares for about $75.29 million, representing a 5.84% decrease in her position, after which she retained over 3.22 million shares in the company.
• Stryker Corporation recently announced a quarterly dividend of $0.84 per share, set to be paid on October 31st, with a current payout ratio of 44.50%.

Gulf International Bank UK Ltd reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,797 shares of the medical technology company's stock after selling 6,586 shares during the quarter. Gulf International Bank UK Ltd's holdings in Stryker were worth $7,369,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SYK. Vanguard Group Inc. increased its holdings in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 0.5% during the 4th 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 purchasing an additional 54,693 shares during the last quarter. Northern Trust Corp increased its holdings in Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after purchasing an additional 420,153 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after purchasing an additional 261,058 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.20% of the company's stock.

Stryker Trading Down 0.0%

NYSE:SYK opened at $376.50 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 12-month low of $325.37 and a 12-month high of $406.19. The business has a 50 day simple moving average of $386.99 and a 200 day simple moving average of $379.84. The firm has a market capitalization of $143.94 billion, a P/E ratio of 49.87, a P/E/G ratio of 2.74 and a beta of 0.91.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given 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 is Tuesday, September 30th. Stryker's payout ratio is 44.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Truist Financial set a $415.00 price target on Stryker and gave the company a "hold" rating in a report on Monday, August 4th. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.

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