LGT Fund Management Co Ltd. Increases Stock Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• LGT Fund Management Co Ltd. increased its holdings in Stryker Corporation by 111.9% in Q1, acquiring 2,095 additional shares for a total worth of $1,477,000.
• Stryker's recent quarterly earnings report showed an EPS of $3.13, exceeding analysts' estimates by $0.06, with revenue of $6.02 billion, up 11.1% year-over-year.
• The company announced a quarterly dividend of $0.84 per share, with a payout scheduled for October 31st, representing an annualized yield of 0.9%.

LGT Fund Management Co Ltd. raised its position in Stryker Corporation (NYSE:SYK - Free Report) by 111.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,967 shares of the medical technology company's stock after purchasing an additional 2,095 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Stryker were worth $1,477,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SYK. Elefante Mark B bought a new position in shares of Stryker during the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. raised its position in shares of Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after acquiring an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after acquiring an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Stryker during the first quarter worth about $1,840,000. Finally, Mar Vista Investment Partners LLC raised its position in shares of Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after acquiring an additional 8,353 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of analyst reports. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Wells Fargo & Company raised their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. 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. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Stryker Stock Down 0.1%

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

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.81 earnings per share. On average, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. 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 presently 44.50%.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by insiders.

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.