Mizuho Securities USA LLC Decreases Position in Stryker Corporation (NYSE:SYK)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Stryker Corporation by 15.4%, now owning 27,498 shares valued at approximately $10.24 million.
• Stryker reported $3.13 earnings per share for the recent quarter, exceeding expectations, while its revenue increased 11.1% year-over-year to $6.02 billion.
• The company announced a quarterly dividend of $0.84 per share, representing an annualized yield of 0.9%, with a payout ratio of 44.50%.

Mizuho Securities USA LLC trimmed its position in Stryker Corporation (NYSE:SYK - Free Report) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,498 shares of the medical technology company's stock after selling 5,020 shares during the quarter. Mizuho Securities USA LLC's holdings in Stryker were worth $10,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. GAMMA Investing LLC increased its position in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Stryker in the 4th quarter worth $154,140,000. Northern Trust Corp lifted its stake in shares of Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the period. Vanguard Group Inc. lifted its stake in shares of Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after acquiring an additional 361,136 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of Stryker by 79.2% in the fourth quarter. Voya Investment Management LLC now owns 706,724 shares of the medical technology company's stock valued at $254,412,000 after purchasing an additional 312,434 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company's stock.

Stryker Stock Down 0.2%

Shares of NYSE SYK traded down $0.83 during midday trading on Monday, hitting $376.75. 1,128,000 shares of the stock traded hands, compared to its average volume of 1,340,536. The business has a 50 day moving average price of $387.08 and a two-hundred day moving average price of $379.86. Stryker Corporation has a one year low of $323.73 and a one year high of $406.19. The company has a market cap of $144.04 billion, a PE ratio of 49.90, a P/E/G ratio of 2.74 and a beta of 0.91. 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 issued its quarterly earnings data 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. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 EPS. On average, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Analyst Ratings Changes

SYK has been the topic of several recent research reports. Roth Mkm upped their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Citigroup restated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Evercore ISI increased their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker Company 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.