SPC Financial Inc. Grows Stake in Stryker Corporation (NYSE:SYK)

Key Points

• SPC Financial Inc. has increased its stake in Stryker Corporation by 83.8% in Q1, boosting its holdings to 1,638 shares valued at $610,000.
• On May 6th, Stryker director Ronda E. Stryker sold 200,000 shares for approximately $75.4 million, reducing her ownership by 5.53%.
• Stryker's recent quarterly earnings of $3.13 EPS surpassed analysts' estimates, with revenue growing by 11.1% year-over-year.

SPC Financial Inc. raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 83.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,638 shares of the medical technology company's stock after purchasing an additional 747 shares during the period. SPC Financial Inc.'s holdings in Stryker were worth $610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC raised 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 worth $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. FMR LLC raised its position in shares of Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Stryker in the 4th quarter worth approximately $154,140,000. Northern Trust Corp raised its position 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 in the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Stryker by 1,695.0% in the 4th quarter. APG Asset Management N.V. now owns 370,226 shares of the medical technology company's stock worth $128,730,000 after acquiring an additional 349,601 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SYK shares. Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Citigroup restated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Stryker Stock Down 1.2%

SYK traded down $4.72 during trading on Wednesday, hitting $376.14. 120,351 shares of the company's stock traded hands, compared to its average volume of 1,440,908. The company's 50 day simple moving average is $387.49 and its two-hundred day simple moving average is $380.36. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12-month low of $319.07 and a 12-month high of $406.19. The stock has a market capitalization of $143.80 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 2.78 and a beta of 0.91.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business posted $2.81 EPS. The company's revenue was up 11.1% compared to the same quarter last year. Analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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