iA Global Asset Management Inc. Acquires 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. grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

A number of other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $328,000. Federated Hermes Inc. boosted its holdings in shares of Stryker by 3.9% in the 4th quarter. Federated Hermes Inc. now owns 118,515 shares of the medical technology company's stock valued at $42,671,000 after buying an additional 4,470 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Stryker by 1.1% in the 4th quarter. Bank of Montreal Can now owns 549,836 shares of the medical technology company's stock valued at $197,969,000 after buying an additional 5,749 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Stryker by 15.3% in the 4th quarter. Invesco Ltd. now owns 2,007,105 shares of the medical technology company's stock valued at $722,658,000 after buying an additional 266,587 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

NYSE:SYK traded up $1.36 during trading hours 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 stock has a fifty day simple moving average of $387.17 and a 200-day simple moving average of $380.08. The company has a market capitalization of $144.41 billion, a P/E ratio of 50.03, a PEG ratio of 2.74 and a beta of 0.91. 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 twelve month low of $322.03 and a twelve month high of $406.19.

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

Stryker Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on SYK. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Finally, Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and an average target price 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.