Stryker Corporation (NYSE:SYK) Position Lessened by LGT Capital Partners LTD.

Key Points

• LGT Capital Partners LTD. has decreased its ownership in Stryker Corporation by 5.2%, selling 11,047 shares, and now holds 201,086 shares worth approximately $74.85 million.
• Stryker reported $3.13 earnings per share for the last quarter, exceeding estimates, with a revenue of $6.02 billion, showing an 11.1% increase compared to the previous year.
• The company has announced a quarterly dividend of $0.84 per share, with a current dividend yield of 0.9% and a payout ratio of 45.41%.

LGT Capital Partners LTD. reduced its position in Stryker Corporation (NYSE:SYK - Free Report) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,086 shares of the medical technology company's stock after selling 11,047 shares during the quarter. Stryker comprises approximately 3.3% of LGT Capital Partners LTD.'s portfolio, making the stock its 10th biggest position. LGT Capital Partners LTD. owned approximately 0.05% of Stryker worth $74,854,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SYK. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the 4th quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter worth $32,000. City Holding Co. raised its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in Stryker during the first quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker during the fourth quarter valued at $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 0.3%

Shares of Stryker stock traded down $1.26 on Tuesday, hitting $380.23. The company had a trading volume of 155,730 shares, compared to its average volume of 1,443,661. The stock has a market capitalization of $145.13 billion, a price-to-earnings ratio of 50.25, a P/E/G ratio of 2.77 and a beta of 0.91. 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 stock has a 50 day moving average of $387.55 and a 200-day moving average of $380.36. Stryker Corporation has a 1 year low of $316.01 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the company posted $2.81 earnings per share. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued 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 of this dividend was Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Analysts Set New Price Targets

SYK has been the subject of several recent analyst reports. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Truist Financial upped their price target on Stryker from $410.00 to $415.00 and gave the company a "hold" rating in a report on Monday. Needham & Company LLC increased their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker 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.