Korea Investment CORP Sells 23,706 Shares of Stryker Corporation $SYK

Key Points

• Korea Investment CORP trimmed its stake in Stryker by 9.5%, selling 23,706 shares and leaving it with 225,246 shares valued at about $83.3 million at quarter-end.
• Director Ronda E. Stryker sold 250,000 shares for roughly $90.7 million, a 9.23% reduction in her position reported in early February.
• Stryker beat quarterly estimates (EPS $4.47 vs. $4.40; revenue $7.17B vs. $7.12B, +11.4% YoY), announced a $0.88 quarterly dividend (1.0% yield), and carries a consensus analyst target of about $428.61.

Korea Investment CORP lowered its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,246 shares of the medical technology company's stock after selling 23,706 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Stryker worth $83,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Clayton Financial Group LLC purchased a new position in shares of Stryker in the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker during the second quarter valued at $28,000. Kilter Group LLC purchased a new position in Stryker during the second quarter valued at $29,000. Howard Hughes Medical Institute bought a new stake in Stryker in the 2nd quarter valued at $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Stryker in the 3rd quarter worth $34,000. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $364.11 on Friday. The firm has a fifty day simple moving average of $365.45 and a two-hundred day simple moving average of $369.00. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $139.34 billion, a P/E ratio of 43.35, a PEG ratio of 2.13 and a beta of 0.85.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts' consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.01 EPS. On average, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is presently 41.90%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company's stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group raised their price objective on Stryker from $386.00 to $400.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. Evercore set a $390.00 price target on Stryker in a research note on Monday, January 5th. William Blair reissued an "outperform" rating on shares of Stryker in a research note on Thursday. Piper Sandler restated an "overweight" rating on shares of Stryker in a report on Tuesday, January 27th. Finally, Wells Fargo & Company lifted their price objective on Stryker from $452.00 to $456.00 and gave the stock an "overweight" rating in a research note on Friday, November 14th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $428.61.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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