Stryker Corporation $SYK Shares Sold by Carmignac Gestion

Key Points

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Carmignac Gestion cut its stake in Stryker Corporation (NYSE:SYK - Free Report) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,669 shares of the medical technology company's stock after selling 5,100 shares during the period. Carmignac Gestion's holdings in Stryker were worth $11,748,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SYK. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the first quarter valued at approximately $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker during the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYK. BTIG Research reissued a "buy" rating on shares of Stryker in a report on Monday, July 14th. Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock 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 report on Friday, July 18th. Finally, Evercore ISI boosted their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Price Performance

Shares of NYSE:SYK opened at $381.91 on Tuesday. The stock's 50-day moving average is $386.77 and its 200 day moving average is $379.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The company has a market cap of $146.01 billion, a PE ratio of 50.58, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 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 firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the previous year, the firm posted $2.81 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend 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 on Wednesday, August 6th. The shares were 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 directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.90% of the company's stock.

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.

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