Natixis Advisors LLC Grows Position in Stryker Corporation $SYK

Key Points

• Natixis Advisors LLC increased its stake in Stryker Corporation (SYK) by 4.6%, buying an additional 9,784 shares to hold 222,332 shares worth about $82.19 million at quarter-end.
• Major institutional moves included a new roughly $1.88 billion stake by Norges Bank and a 307.6% increase by AllianceBernstein, leaving institutional investors with about 77.09% ownership of Stryker.
• Stryker recently beat quarterly estimates with $4.47 EPS and $7.17 billion revenue (up 11.4% YoY) and announced a quarterly dividend of $0.88 ($3.52 annual, ~1.0% yield) with an ex-dividend date of March 31.

Natixis Advisors LLC boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 222,332 shares of the medical technology company's stock after buying an additional 9,784 shares during the quarter. Natixis Advisors LLC owned 0.06% of Stryker worth $82,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Norges Bank purchased a new stake in shares of Stryker during the 2nd quarter valued at about $1,882,173,000. Alliancebernstein L.P. raised its holdings in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company's stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC lifted its position in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the period. Strive Asset Management LLC bought a new position in Stryker during the third quarter valued at approximately $227,389,000. Finally, ABN AMRO Bank N.V. purchased a new stake in Stryker in the second quarter worth approximately $191,047,000. Institutional investors own 77.09% of the company's stock.

Stryker Trading Down 1.7%

Stryker stock opened at $364.11 on Monday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87. The firm has a market capitalization of $139.34 billion, a price-to-earnings ratio of 43.35, a P/E/G ratio of 2.13 and a beta of 0.85. The firm has a 50 day moving average of $365.45 and a 200 day moving average of $368.84. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the firm earned $4.01 EPS. The company's revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is 41.90%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 250,000 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company's stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.20% of the company's stock.

Analyst Ratings Changes

SYK has been the subject of a number of research reports. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. BTIG Research boosted their price target on Stryker from $410.00 to $412.00 and gave the company a "buy" rating in a research note on Friday, January 30th. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research report on Friday, January 9th. Piper Sandler reiterated an "overweight" rating on shares of Stryker in a research note on Tuesday, January 27th. Finally, Needham & Company LLC raised their price objective on shares of Stryker from $448.00 to $454.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $428.61.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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