ING Groep NV Sells 26,269 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• ING Groep NV has significantly reduced its stake in Stryker Corporation, selling 26,269 shares to decrease its holdings by 55.7%, now owning 20,851 shares valued at approximately $7.76 million.
• Other institutional investors like Allianz SE and Commonwealth Equity Services LLC have increased their holdings in Stryker, indicating a mixed trend among institutional ownership.
• Stryker reported an earnings per share (EPS) of $3.13 for the last quarter, surpassing analysts’ expectations and reflecting a 11.1% increase in revenue year-over-year.

ING Groep NV reduced its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 55.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,851 shares of the medical technology company's stock after selling 26,269 shares during the quarter. ING Groep NV's holdings in Stryker were worth $7,762,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Allianz SE lifted its stake in shares of Stryker by 35.5% during the 1st quarter. Allianz SE now owns 4,391 shares of the medical technology company's stock valued at $1,635,000 after buying an additional 1,151 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Stryker by 4.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 166,711 shares of the medical technology company's stock worth $62,058,000 after purchasing an additional 7,214 shares in the last quarter. L & S Advisors Inc lifted its stake in Stryker by 7.6% in the 1st quarter. L & S Advisors Inc now owns 7,426 shares of the medical technology company's stock worth $2,764,000 after purchasing an additional 527 shares in the last quarter. CCLA Investment Management lifted its stake in Stryker by 3.2% in the 1st quarter. CCLA Investment Management now owns 323,990 shares of the medical technology company's stock worth $120,595,000 after purchasing an additional 9,903 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in Stryker by 5.2% in the 1st quarter. Scotia Capital Inc. now owns 99,335 shares of the medical technology company's stock worth $36,977,000 after purchasing an additional 4,876 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value 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 represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

NYSE SYK traded up $1.36 during trading hours on Friday, hitting $377.73. 972,332 shares of the company's stock traded hands, compared to its average volume of 1,333,167. The business's fifty day moving average price is $387.17 and its two-hundred day moving average price is $380.15. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $144.41 billion, a P/E ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 52 week low of $322.03 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced 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. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 earnings per share. Equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company 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 $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 is presently 44.50%.

Stryker Company 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.