iA Global Asset Management Inc. Purchases 700 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• iA Global Asset Management Inc. increased its stake in Stryker Corporation by 8.4%, bringing its total shares to 9,073, valued at $3.38 million at the end of the last quarter.
• Stryker's quarterly earnings exceeded expectations, reporting $3.13 EPS and $6.02 billion in revenue, indicating an 11.1% increase year-over-year.
• The company has a current market cap of $145.68 billion, with shares recently opening at $381.04, and analysts maintaining a consensus rating of "Moderate Buy" with an average price target of $430.10.

iA Global Asset Management Inc. increased its position in Stryker Corporation (NYSE:SYK - Free Report) by 8.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,073 shares of the medical technology company's stock after acquiring an additional 700 shares during the quarter. iA Global Asset Management Inc.'s holdings in Stryker were worth $3,377,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Elefante Mark B bought a new stake in Stryker during the fourth quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. lifted its position in Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Stryker during the first quarter valued at approximately $1,840,000. Finally, Mar Vista Investment Partners LLC lifted its position in Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after purchasing an additional 8,353 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.1%

Shares of Stryker stock opened at $381.04 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12-month low of $316.01 and a 12-month high of $406.19. The company has a market cap of $145.68 billion, a P/E ratio of 50.47, a PEG ratio of 2.78 and a beta of 0.91. The company's fifty day simple moving average is $387.49 and its two-hundred day simple moving average is $380.36.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the business earned $2.81 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.84 dividend. The ex-dividend date was Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio is 44.50%.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Evercore ISI lifted their target price on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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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