Oddo BHF Asset Management Sas Reduces Position in Stryker Corporation $SYK

Key Points

• Oddo BHF Asset Management cut its Stryker position by 15.4% in the first quarter, selling 3,892 shares and retaining 21,403 shares valued at approximately $7.0 million. Institutional investors and hedge funds collectively own 77.09% of SYK.
• Stryker reported weaker-than-expected quarterly results, with earnings per share of $2.60 versus the $2.98 consensus estimate and revenue of $6.02 billion versus expectations of $6.34 billion. Revenue still increased 2.6% year over year.
• The company declared a quarterly dividend of $0.88 per share, equal to an annualized $3.52 dividend and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $393.39.

Oddo BHF Asset Management Sas decreased its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 15.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,403 shares of the medical technology company's stock after selling 3,892 shares during the period. Oddo BHF Asset Management Sas' holdings in Stryker were worth $7,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. Godfrey Financial Associates Inc. acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $26,000. Sankala Group LLC purchased a new position in Stryker during the fourth quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new position in Stryker during the third quarter worth $27,000. Atlas Capital Advisors Inc. acquired a new position in Stryker during the fourth quarter worth $27,000. Finally, DJE Kapital AG purchased a new stake in Stryker in the 4th quarter valued at $28,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

NYSE:SYK opened at $352.35 on Thursday. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $403.22. The stock's fifty day moving average is $316.38 and its two-hundred day moving average is $335.11. The company has a market capitalization of $135.08 billion, a P/E ratio of 40.78, a P/E/G ratio of 2.22 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.84 earnings per share. Equities analysts expect that Stryker Corporation will post 14.99 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker's dividend payout ratio is presently 40.74%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 310,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total value of $96,791,300.00. Following the sale, the director directly owned 1,924,880 shares of the company's stock, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares in the company, valued at approximately $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 323,264 shares of company stock valued at $100,659,489 over the last 90 days. 4.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYK. Leerink Partners reduced their price target on Stryker from $410.00 to $407.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. BMO Capital Markets assumed coverage on shares of Stryker in a report on Wednesday, July 8th. They issued an "outperform" rating and a $369.00 price objective for the company. Argus set a $370.00 price objective on shares of Stryker in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on shares of Stryker in a research note on Friday, May 1st. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $393.39.

Stryker 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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