Zions Bancorporation National Association UT Invests $6.65 Million in Stryker Corporation (NYSE:SYK)

Key Points

• Zions Bancorporation National Association UT invested approximately $6.65 million in Stryker Corporation by acquiring 17,859 shares in the first quarter of the year.
• Stryker's quarterly earnings reported an EPS of $3.13, exceeding analysts' expectations, with revenue rising 11.1% from the previous year, totaling $6.02 billion.
• In recent trading, Stryker's stock was priced at $376.21, and the company announced a quarterly dividend of $0.84 per share, representing a 0.9% yield.

Zions Bancorporation National Association UT purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,859 shares of the medical technology company's stock, valued at approximately $6,648,000.

A number of other institutional investors also recently modified their holdings of the stock. Continuum Advisory LLC increased its stake in shares of Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after buying an additional 29 shares during the period. Oakworth Capital Inc. boosted its holdings in Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after acquiring an additional 29 shares during the last quarter. Strategy Asset Managers LLC increased its position in Stryker by 1.4% in the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock worth $794,000 after purchasing an additional 29 shares during the period. Rinkey Investments increased its position in Stryker by 1.1% in the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after purchasing an additional 30 shares during the period. Finally, Tritonpoint Wealth LLC raised its holdings in Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 30 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was 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. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYK has been the topic of a number of analyst reports. Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Stock Up 0.3%

SYK stock opened at $376.21 on Friday. Stryker Corporation has a fifty-two week low of $320.78 and a fifty-two week high of $406.19. The stock has a fifty day moving average of $387.27 and a 200-day moving average of $380.27. The company has a market capitalization of $143.83 billion, a price-to-earnings ratio of 49.83, a PEG ratio of 2.72 and a beta of 0.91. 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 (NYSE:SYK - Get Free Report) last announced its quarterly 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. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.81 EPS. As a group, equities research analysts predict 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. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's payout ratio is 44.50%.

About Stryker

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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