Rathbones Group PLC Has $10.81 Million Stock Position in Stryker Corporation (NYSE:SYK)

Key Points

• Rathbones Group PLC increased its stake in Stryker Corporation by 4.3%, owning 29,028 shares valued at approximately $10.81 million as of its latest SEC filing.
• Stryker reported an earnings per share (EPS) of $3.13, beating estimates, with revenue reaching $6.02 billion for the quarter, an 11.1% increase year-over-year.
• The company announced a quarterly dividend of $0.84 per share, representing a yield of 0.9%, with an ex-dividend date on September 30th.

Rathbones Group PLC increased its position in Stryker Corporation (NYSE:SYK - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,028 shares of the medical technology company's stock after purchasing an additional 1,191 shares during the quarter. Rathbones Group PLC's holdings in Stryker were worth $10,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in Stryker in the fourth quarter valued at $26,000. Goodman Advisory Group LLC acquired a new stake in Stryker in the first quarter valued at $32,000. City Holding Co. raised its holdings in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Stryker during the fourth quarter worth $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Needham & Company LLC increased their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Evercore ISI increased their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Citigroup reissued a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Price Performance

Stryker stock traded down $0.41 during trading hours on Thursday, hitting $378.54. 1,622,546 shares of the company traded hands, compared to its average volume of 1,332,014. The firm has a market cap of $144.72 billion, a P/E ratio of 50.14, a P/E/G ratio of 2.75 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm's 50-day simple moving average is $386.82 and its two-hundred day simple moving average is $379.68. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

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, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.81 EPS. As a group, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's payout ratio is currently 44.50%.

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.