Stryker Corporation (NYSE:SYK) Shares Bought by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. increased its holdings in Stryker Corporation by 14.6% during the first quarter, now owning 27,774 shares valued at approximately $10.39 million.
• Director Ronda E. Stryker sold 200,000 shares of the company for $75.39 million, which represented a 5.53% decrease in her shareholding.
• Stryker Corporation announced a quarterly dividend of $0.84 per share, with a yield of 0.85%, to be paid on July 31st to shareholders of record on June 30th.

Phoenix Financial Ltd. boosted its position in Stryker Corporation (NYSE:SYK - Free Report) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,774 shares of the medical technology company's stock after buying an additional 3,535 shares during the quarter. Phoenix Financial Ltd.'s holdings in Stryker were worth $10,385,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in Stryker in the 4th quarter valued at $26,000. Goodman Advisory Group LLC acquired a new position in Stryker in the first quarter valued at about $32,000. City Holding Co. lifted its position in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Stryker in the first quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in Stryker in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.90% of the company's stock.

Stryker Trading Down 0.8%

Shares of SYK traded down $3.10 during mid-day trading on Monday, reaching $400.43. 888,444 shares of the company's stock traded hands, compared to its average volume of 1,442,338. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a market cap of $152.84 billion, a P/E ratio of 54.11, a P/E/G ratio of 2.99 and a beta of 0.91. The stock's 50-day moving average is $386.37 and its two-hundred day moving average is $379.44. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter last year, the firm earned $2.50 EPS. The business's revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Stryker's dividend payout ratio (DPR) is 45.41%.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Evercore ISI lifted their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Finally, Truist Financial raised their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

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.