LGT Group Foundation Has $5.59 Million Stock Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• LGT Group Foundation increased its stake in Stryker Corporation by 7.2%, bringing its total ownership to 15,017 shares valued at $5.59 million.
• Stryker reported a Q2 EPS of $3.13, exceeding expectations, with revenue of $6.02 billion, an 11.1% year-over-year increase.
• The company recently announced a quarterly dividend of $0.84 per share, equating to an annualized yield of 0.9%.

LGT Group Foundation raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,017 shares of the medical technology company's stock after acquiring an additional 1,006 shares during the quarter. LGT Group Foundation's holdings in Stryker were worth $5,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Elefante Mark B acquired a new stake in shares of Stryker during the 4th quarter valued at about $337,000. Mogy Joel R Investment Counsel Inc. raised its stake in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after acquiring an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in shares of Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after acquiring an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Stryker in the 1st quarter valued at approximately $1,840,000. Finally, Mar Vista Investment Partners LLC grew its holdings in Stryker by 10.2% in the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after buying an additional 8,353 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of SYK traded down $0.41 during mid-day trading on Thursday, reaching $378.54. The company had a trading volume of 1,622,546 shares, compared to its average volume of 1,332,014. Stryker Corporation has a twelve month low of $329.16 and a twelve 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. The company's 50-day moving average is $386.82 and its 200-day moving average is $379.68. The company has a market capitalization of $144.72 billion, a P/E ratio of 50.14, a P/E/G ratio of 2.75 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. Stryker's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 EPS. On average, equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio is presently 44.50%.

Analysts Set New Price Targets

A number of analysts have issued reports on SYK shares. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Wells Fargo & Company raised their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker 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.