Mediolanum International Funds Ltd Sells 965 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Stryker Corporation by 2.3%, owning 40,104 shares valued at approximately $14.6 million after selling 965 shares in the first quarter.
• Several hedge funds are actively adjusting their positions in Stryker, with notable increases from Mogy Joel R Investment Counsel Inc. (+3.4%) and Mar Vista Investment Partners LLC (+10.2%).
• Stryker Corporation reported a quarterly EPS of $2.84, exceeding analyst estimates, with a revenue of $5.87 billion, indicating a year-over-year growth of 11.9%.

Mediolanum International Funds Ltd trimmed its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,104 shares of the medical technology company's stock after selling 965 shares during the quarter. Mediolanum International Funds Ltd's holdings in Stryker were worth $14,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elefante Mark B bought a new stake in shares of Stryker in the 4th quarter worth approximately $337,000. Mogy Joel R Investment Counsel Inc. increased its position 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 in the last quarter. Ferguson Wellman Capital Management Inc. increased its position 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 in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Stryker in the first quarter worth approximately $1,840,000. Finally, Mar Vista Investment Partners LLC increased its position in shares of Stryker by 10.2% in the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after acquiring an additional 8,353 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

Stryker stock traded down $3.10 on Monday, hitting $400.43. The company's stock had a trading volume of 888,445 shares, compared to its average volume of 1,442,356. The firm has a market cap of $152.84 billion, a P/E ratio of 54.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $386.37 and a 200-day moving average price of $379.44. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its 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. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities 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 paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. Stryker's dividend payout ratio is presently 45.41%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SYK shares. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Roth Mkm lifted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup reissued a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Truist Financial raised their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $428.55.

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.