National Bank of Canada FI Trims Stock Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• National Bank of Canada FI reduced its stake in Stryker Corporation by 13.3%, selling 57,221 shares and ending the quarter with 374,038 shares valued at $139.23 million.
• Several large investors, including Citigroup Inc. and AMF Tjanstepension AB, have significantly increased their holdings in Stryker during the same quarter, indicating positive sentiment from institutional players.
• Stryker recently reported quarterly earnings of $3.13 EPS, surpassing analysts’ expectation of $3.07, and announced a quarterly dividend of $0.84 per share to be paid on October 31st.

National Bank of Canada FI lessened its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 374,038 shares of the medical technology company's stock after selling 57,221 shares during the quarter. National Bank of Canada FI owned 0.10% of Stryker worth $139,230,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Citigroup Inc. boosted its position in Stryker by 72.4% in the first quarter. Citigroup Inc. now owns 468,349 shares of the medical technology company's stock valued at $174,343,000 after buying an additional 196,637 shares during the last quarter. AMF Tjanstepension AB lifted its stake in Stryker by 1,011.1% during the 1st quarter. AMF Tjanstepension AB now owns 46,154 shares of the medical technology company's stock valued at $17,186,000 after acquiring an additional 42,000 shares during the period. AlphaCore Capital LLC purchased a new stake in shares of Stryker in the 1st quarter valued at $215,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Stryker by 14.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,509 shares of the medical technology company's stock valued at $232,484,000 after acquiring an additional 76,729 shares during the last quarter. Finally, Evernest Financial Advisors LLC increased its stake in shares of Stryker by 20.4% in the first quarter. Evernest Financial Advisors LLC now owns 3,938 shares of the medical technology company's stock worth $1,466,000 after acquiring an additional 667 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of Stryker stock opened at $376.21 on Friday. The stock has a market capitalization of $143.83 billion, a P/E ratio of 49.83, a PEG ratio of 2.72 and a beta of 0.91. The business has a 50 day simple moving average of $387.27 and a two-hundred day simple moving average of $380.27. Stryker Corporation has a 12 month low of $320.78 and a 12 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.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.81 EPS. As a group, analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio is presently 44.50%.

Wall Street Analyst Weigh In

SYK has been the topic of several recent research reports. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI boosted their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Company 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.

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