S Bank Fund Management Ltd Invests $1.16 Million in Stryker Corporation (NYSE:SYK)

Key Points

• S Bank Fund Management Ltd acquired a new stake in Stryker Corporation, purchasing 3,114 shares valued at approximately $1,159,000.
• A significant transaction occurred when director Ronda E. Stryker sold 200,000 shares at an average price of $376.45, reducing her ownership in the company by 5.84%.
• Analysts have set a consensus price target for Stryker at $430.10, with four analysts rating it as a hold and sixteen giving it a buy rating.

S Bank Fund Management Ltd purchased a new position in Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,114 shares of the medical technology company's stock, valued at approximately $1,159,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Capital A Wealth Management LLC bought a new position in Stryker in the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new position in Stryker in the first quarter worth approximately $32,000. City Holding Co. boosted 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 worth $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Stryker in the first quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in Stryker in the fourth quarter worth approximately $42,000. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was 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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

NYSE:SYK traded down $0.41 during trading hours on Thursday, reaching $378.54. The stock had a trading volume of 1,622,546 shares, compared to its average volume of 1,332,014. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a 50 day simple moving average of $386.82 and a 200 day simple moving average of $379.68. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a market cap of $144.72 billion, a P/E ratio of 50.14, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business posted $2.81 earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYK. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.