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US Bancorp DE Lowers Stock Position in Stryker Corporation (NYSE:SYK)

Stryker logo with Medical background

Key Points

  • US Bancorp DE reduced its stake in Stryker Corporation by 0.6%, now holding approximately 181,654 shares valued at $67.6 million.
  • Director Ronda E. Stryker sold 200,000 shares, leading to a 5.53% decrease in her holdings, which are now valued at over $1.28 billion.
  • Stryker reported earnings of $3.13 per share, surpassing analysts’ expectations, with a revenue of $6.02 billion, up 11.1% from the previous year.
  • MarketBeat previews the top five stocks to own by September 1st.

US Bancorp DE lessened its position in Stryker Corporation (NYSE:SYK - Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 181,654 shares of the medical technology company's stock after selling 1,171 shares during the quarter. US Bancorp DE's holdings in Stryker were worth $67,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SYK. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $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 stake in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the 1st quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Stryker during the 4th quarter worth approximately $42,000. Institutional investors own 77.09% of the company's stock.

Stryker Price Performance

Stryker stock traded up $3.45 during trading on Monday, reaching $381.24. The company had a trading volume of 1,354,523 shares, compared to its average volume of 1,306,701. The firm has a market capitalization of $145.51 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The firm's 50-day simple moving average is $387.46 and its 200 day simple moving average is $380.38. 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 Corporation has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its 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 net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the prior year, the business earned $2.81 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, 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. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

View Our Latest Stock Report on Stryker

About Stryker

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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