Vestcor Inc Has $2.37 Million Stock Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• Vestcor Inc reduced its holdings in Stryker Corporation by 21.9% in the first quarter, now owning 6,370 shares valued at approximately $2.37 million.
• Stryker reported $3.13 EPS for the last quarter, exceeding analysts' estimates, with a revenue of $6.02 billion, reflecting an 11.1% increase year-over-year.
• Following recent trading activity, Stryker's share price has a range of $314.93 to $406.19 over the past year, and it currently has a market capitalization of $150.15 billion.

Vestcor Inc lessened its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,370 shares of the medical technology company's stock after selling 1,786 shares during the quarter. Vestcor Inc's holdings in Stryker were worth $2,371,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Stryker by 13.3% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 2,222 shares of the medical technology company's stock valued at $827,000 after acquiring an additional 260 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Stryker in the 1st quarter valued at $8,166,000. Premier Fund Managers Ltd lifted its stake in shares of Stryker by 37.6% in the 1st quarter. Premier Fund Managers Ltd now owns 29,866 shares of the medical technology company's stock valued at $10,879,000 after acquiring an additional 8,160 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Stryker by 30.3% in the 1st quarter. Federated Hermes Inc. now owns 154,433 shares of the medical technology company's stock valued at $57,488,000 after acquiring an additional 35,918 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Stryker by 74.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 24,473 shares of the medical technology company's stock valued at $9,110,000 after acquiring an additional 10,455 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 1.8%

Shares of NYSE:SYK opened at $393.37 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The business's 50 day simple moving average is $387.43 and its two-hundred day simple moving average is $380.19. The firm has a market cap of $150.15 billion, a P/E ratio of 53.16, a PEG ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data 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 return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the firm posted $2.81 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 30th. Stryker's payout ratio is currently 45.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Roth Mkm raised 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. Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Truist Financial raised their target price on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director directly owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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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