NS Partners Ltd Grows Stake in Stryker Corporation (NYSE:SYK)

Key Points

• NS Partners Ltd increased its stake in Stryker Corporation by 0.6%, owning 112,435 shares valued at approximately $41.85 million, making it the firm's 15th largest position.
• Director Ronda E. Stryker sold 200,000 shares for a total of $75.29 million, reducing her ownership by 5.84% to 3,222,108 shares.
• Stryker announced a quarterly dividend of $0.84, with a payout ratio of 44.50%, and reported strong Q2 earnings, exceeding expectations with $3.13 EPS and $6.02 billion in revenue.

NS Partners Ltd boosted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,435 shares of the medical technology company's stock after purchasing an additional 697 shares during the period. Stryker comprises about 1.8% of NS Partners Ltd's investment portfolio, making the stock its 15th biggest position. NS Partners Ltd's holdings in Stryker were worth $41,854,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. Savvy Advisors Inc. lifted its position in shares of Stryker by 19.5% in the first quarter. Savvy Advisors Inc. now owns 1,965 shares of the medical technology company's stock valued at $731,000 after acquiring an additional 321 shares in the last quarter. Citigroup Inc. increased its stake in Stryker by 72.4% during the first quarter. Citigroup Inc. now owns 468,349 shares of the medical technology company's stock worth $174,343,000 after acquiring an additional 196,637 shares during the last quarter. AMF Tjanstepension AB increased its stake in Stryker by 1,011.1% during the first quarter. AMF Tjanstepension AB now owns 46,154 shares of the medical technology company's stock worth $17,186,000 after acquiring an additional 42,000 shares during the last quarter. AlphaCore Capital LLC bought a new stake in Stryker during the first quarter worth approximately $215,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Stryker by 14.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,509 shares of the medical technology company's stock worth $232,484,000 after acquiring an additional 76,729 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director 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 at this link. Company insiders own 5.90% of the company's stock.

Stryker Price Performance

NYSE SYK opened at $376.21 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The stock's fifty day moving average price is $387.27 and its 200 day moving average price is $380.27. Stryker Corporation has a 1 year low of $320.78 and a 1 year high of $406.19. The company has a market cap of $143.83 billion, a price-to-earnings ratio of 49.83, a PEG ratio of 2.72 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 EPS. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business 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 $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Analyst Ratings Changes

SYK has been the topic of several analyst reports. Citigroup reissued a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a research report on Monday. Roth Mkm boosted their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $430.10.

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.

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