Stryker Corporation (NYSE:SYK) Shares Sold by Longbow Finance SA

Key Points

• Longbow Finance SA reduced its stake in Stryker Corporation by 17.7% in Q1, holding 20,327 shares worth approximately $7.57 million.
• Stryker reported an EPS of $2.84 for the recent quarter, surpassing analyst expectations and showing an 11.9% year-over-year revenue increase.
• The company has announced a quarterly dividend of $0.84, set to be paid on July 31, with an annualized yield of 0.85%.

Longbow Finance SA reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,327 shares of the medical technology company's stock after selling 4,365 shares during the quarter. Longbow Finance SA's holdings in Stryker were worth $7,567,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Roth Mkm raised their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Citigroup reaffirmed a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $428.55.

Stryker Price Performance

Shares of SYK stock traded down $3.16 during mid-day trading on Monday, reaching $400.37. The stock had a trading volume of 509,613 shares, compared to its average volume of 1,439,444. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market cap of $152.82 billion, a P/E ratio of 54.10, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. The business has a 50-day simple moving average of $386.37 and a 200 day simple moving average of $379.44. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is currently 45.41%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.