Stryker Corporation (NYSE:SYK) Shares Sold by ING Groep NV

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

A number of other hedge funds have also added to or reduced their stakes in the stock. Allianz SE raised its stake in 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 during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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. increased its stake in shares of 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.

Stryker Trading Down 1.6%

Shares of NYSE:SYK traded down $5.93 during trading on Wednesday, reaching $374.93. 1,478,016 shares of the company were exchanged, compared to its average volume of 1,301,643. The firm has a market capitalization of $143.34 billion, a PE ratio of 49.66, a P/E/G ratio of 2.77 and a beta of 0.91. The business's fifty day simple moving average is $387.49 and its 200-day simple moving average is $380.36. Stryker Corporation has a 12-month low of $319.07 and a 12-month high of $406.19. 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 (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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 for 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%. Stryker's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $2.81 earnings per share. On average, 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. Stockholders of record on Monday, June 30th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, June 30th. Stryker's payout ratio is presently 44.50%.

Analyst Ratings Changes

Several research firms have recently commented on SYK. Citigroup restated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research note 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 company. Based on data from MarketBeat.com, the stock presently has a consensus 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.