Korea Investment CORP Has $97.42 Million Stock Position in Stryker Corporation $SYK

Key Points

• Korea Investment CORP has reduced its stake in Stryker Corporation by 13.1%, owning 261,714 shares worth approximately $97.42 million after selling 39,516 shares in the first quarter.
• Stryker reported a $3.13 EPS for the most recent quarter, exceeding the consensus estimate of $3.07, with revenue of $6.02 billion.
• The company recently announced a quarterly dividend of $0.84 per share, representing a 0.9% yield for shareholders of record on September 30th.

Korea Investment CORP lowered its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 13.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,714 shares of the medical technology company's stock after selling 39,516 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Stryker worth $97,423,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew 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 acquiring an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 54,693 shares during the last quarter. Northern Trust Corp grew 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 acquiring an additional 420,153 shares during the last quarter. Goldman Sachs Group Inc. grew 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 acquiring an additional 261,058 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK stock opened at $381.87 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market capitalization of $145.99 billion, a P/E ratio of 50.58, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company's 50 day moving average price is $386.78 and its two-hundred day moving average price is $379.44. Stryker Corporation has a 52 week low of $329.16 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 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $2.81 EPS. On average, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is 44.50%.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup reaffirmed a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Needham & Company LLC raised their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Wells Fargo & Company raised their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. 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, 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.

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