Swiss National Bank Sells 1,200 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• The Swiss National Bank reduced its stake in Stryker Corporation by 0.1%, now holding approximately 967,600 shares worth $360 million.
• Stryker reported a quarterly earnings per share of $3.13, beating estimates, and experienced an 11.1% year-over-year revenue increase to $6.02 billion.
• The company announced a quarterly dividend of $0.84 per share, with a current dividend yield of 0.9% and a payout ratio of 44.5%.

Swiss National Bank lowered its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 967,600 shares of the medical technology company's stock after selling 1,200 shares during the period. Swiss National Bank owned approximately 0.25% of Stryker worth $360,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SYK. Brighton Jones LLC increased its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after acquiring an additional 609 shares in the last quarter. DRW Securities LLC bought a new stake in Stryker during the 4th quarter valued at $256,000. F M Investments LLC raised its holdings in Stryker by 17.7% during the fourth quarter. F M Investments LLC now owns 27,801 shares of the medical technology company's stock worth $10,010,000 after buying an additional 4,188 shares during the last quarter. Scotia Capital Inc. lifted its stake in shares of Stryker by 10.6% in the fourth quarter. Scotia Capital Inc. now owns 94,459 shares of the medical technology company's stock valued at $34,014,000 after buying an additional 9,089 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Stryker by 20.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,099 shares of the medical technology company's stock valued at $396,000 after buying an additional 187 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.3%

NYSE:SYK opened at $376.21 on Friday. The firm's 50 day moving average is $387.27 and its 200 day moving average is $380.27. Stryker Corporation has a 12 month low of $320.78 and a 12 month high of $406.19. The stock has a market capitalization of $143.83 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.91. 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 (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the company posted $2.81 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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 given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio is presently 44.50%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SYK. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Needham & Company LLC upped their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has an average rating of "Moderate Buy" and a consensus 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.

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