Natural Investments LLC Sells 1,295 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Natural Investments LLC has reduced its stake in Stryker Corporation by 30.5%, selling 1,295 shares and now holding 2,950 shares worth approximately $1,098,000.
• Several institutional investors, including GAMMA Investing LLC, have significantly increased their positions in Stryker, with GAMMA raising its ownership by 43,226.8% to over 2 million shares.
• Stryker reported better-than-expected quarterly earnings of $3.13 EPS, surpassing estimates, with a revenue of $6.02 billion and a year-over-year growth of 11.1%.

Natural Investments LLC reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 30.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,950 shares of the medical technology company's stock after selling 1,295 shares during the quarter. Natural Investments LLC's holdings in Stryker were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Continuum Advisory LLC grew its holdings in shares of Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after purchasing an additional 29 shares during the last quarter. Oakworth Capital Inc. grew its holdings in shares of Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares during the last quarter. Rinkey Investments grew its holdings in shares of Stryker by 1.1% in the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after purchasing an additional 30 shares during the last quarter. Tritonpoint Wealth LLC grew its holdings in shares of Stryker by 0.7% in the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 30 shares during the last quarter. Finally, Cornerstone Advisory LLC grew its holdings in shares of Stryker by 0.6% in the fourth quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company's stock worth $2,024,000 after purchasing an additional 31 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Stryker stock traded up $1.36 during midday trading on Friday, hitting $377.73. The stock had a trading volume of 972,332 shares, compared to its average volume of 1,333,167. The firm's fifty day moving average is $387.17 and its two-hundred day moving average is $380.08. The company has a market capitalization of $144.41 billion, a PE ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 52-week low of $322.03 and a 52-week high of $406.19. 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 (NYSE:SYK - Get Free Report) last announced 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 business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the firm posted $2.81 EPS. The company's revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is 44.50%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SYK shares. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Evercore ISI lifted 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. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Wells Fargo & Company boosted their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is currently owned by company insiders.

Stryker 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.