Lbp Am Sa Raises Holdings in Stryker Corporation (NYSE:SYK)

LBP AM SA lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,469 shares of the medical technology company's stock after purchasing an additional 22,659 shares during the period. Stryker comprises about 1.3% of LBP AM SA's portfolio, making the stock its 15th largest holding. LBP AM SA owned 0.06% of Stryker worth $85,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Elefante Mark B purchased a new position in shares of Stryker in the fourth quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. boosted its stake in shares of Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after acquiring an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after acquiring an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker in the first quarter worth approximately $1,840,000. Finally, Fred Alger Management LLC boosted its stake in shares of Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after acquiring an additional 19,356 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Up 0.7%

Shares of Stryker stock traded up $2.62 during trading hours on Thursday, hitting $394.67. The company's stock had a trading volume of 1,167,734 shares, compared to its average volume of 1,352,604. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The firm has a fifty day moving average of $384.57 and a 200-day moving average of $376.97. The stock has a market cap of $150.64 billion, a price-to-earnings ratio of 53.33, a P/E/G ratio of 2.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 EPS. Research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker's dividend payout ratio is presently 45.41%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYK. BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Citigroup reissued a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company's stock.

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.