Raiffeisen Bank International AG Sells 1,877 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Raiffeisen Bank International AG has reduced its holdings in Stryker Corporation by 2.1%, ending the first quarter with 86,979 shares valued at approximately $31.7 million.
• Stryker's stock is currently down 3.6% and has a market capitalization of $144.52 billion, with a 12-month high of $406.19.
• The company recently announced a quarterly dividend of $0.84 per share, with a dividend yield of 0.9% and a payout ratio of 45.41%.

Raiffeisen Bank International AG lowered its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,979 shares of the medical technology company's stock after selling 1,877 shares during the period. Raiffeisen Bank International AG's holdings in Stryker were worth $31,704,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. L & S Advisors Inc grew its stake in Stryker by 7.6% during the first quarter. L & S Advisors Inc now owns 7,426 shares of the medical technology company's stock worth $2,764,000 after purchasing an additional 527 shares during the period. CCLA Investment Management grew its stake in Stryker by 3.2% in the first quarter. CCLA Investment Management now owns 323,990 shares of the medical technology company's stock valued at $120,595,000 after acquiring an additional 9,903 shares during the period. Scotia Capital Inc. grew its stake in Stryker by 5.2% in the first quarter. Scotia Capital Inc. now owns 99,335 shares of the medical technology company's stock valued at $36,977,000 after acquiring an additional 4,876 shares during the period. PNC Financial Services Group Inc. grew its stake in Stryker by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,033,324 shares of the medical technology company's stock valued at $384,655,000 after acquiring an additional 13,710 shares during the period. Finally, Mirabaud & Cie SA grew its stake in Stryker by 6.9% in the first quarter. Mirabaud & Cie SA now owns 6,935 shares of the medical technology company's stock valued at $2,582,000 after acquiring an additional 445 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

Shares of NYSE SYK traded down $1.06 during trading on Tuesday, reaching $380.44. 211,563 shares of the stock traded hands, compared to its average volume of 1,444,151. Stryker Corporation has a 52-week low of $316.01 and a 52-week high of $406.19. 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 company has a 50-day moving average of $387.55 and a 200-day moving average of $380.36. The stock has a market capitalization of $145.21 billion, a P/E ratio of 50.37, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, June 30th. Stryker's payout ratio is presently 44.50%.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Roth Mkm lifted 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. Finally, BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Stryker currently 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.