National Pension Service Has $253.23 Million Position in Stryker Corporation (NYSE:SYK)

Key Points

• The National Pension Service increased its stake in Stryker Corporation (NYSE: SYK) by 4.7% in Q1, owning approximately 0.18% of the company valued at $253.23 million.
• Stryker is currently receiving a consensus rating of "Moderate Buy" from analysts, with an average price target of $430.10 after several upgrades.
• The company reported $3.13 earnings per share for the last quarter, exceeding expectations, and plans to pay a quarterly dividend of $0.84 on October 31st.

National Pension Service raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 680,271 shares of the medical technology company's stock after purchasing an additional 30,601 shares during the period. National Pension Service owned 0.18% of Stryker worth $253,231,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Stock Down 0.1%

Shares of NYSE SYK traded down $0.41 during midday trading on Thursday, reaching $378.54. The company's stock had a trading volume of 1,622,546 shares, compared to its average volume of 1,332,014. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock has a market capitalization of $144.72 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 2.75 and a beta of 0.91. The stock has a 50 day simple moving average of $386.82 and a 200-day simple moving average of $379.68.

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

Stryker Dividend Announcement

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

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.