Lbp Am Sa Reduces Holdings in Stryker Co. (NYSE:SYK)

Lbp Am Sa reduced its position in Stryker Co. (NYSE:SYK) by 66.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,267 shares of the medical technology company’s stock after selling 8,513 shares during the period. Lbp Am Sa’s holdings in Stryker were worth $1,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Semmax Financial Advisors Inc. purchased a new stake in Stryker during the 1st quarter worth approximately $179,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Stryker in the 1st quarter worth about $414,000. Tidal Investments LLC raised its stake in shares of Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after purchasing an additional 1,681 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Stryker by 0.6% during the first quarter. California State Teachers Retirement System now owns 557,353 shares of the medical technology company’s stock worth $199,460,000 after purchasing an additional 3,155 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in Stryker by 6.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 6,511 shares of the medical technology company’s stock worth $2,330,000 after purchasing an additional 394 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK traded up $5.72 during trading hours on Thursday, reaching $333.17. 1,629,796 shares of the company’s stock traded hands, compared to its average volume of 1,319,311. The firm has a market capitalization of $126.92 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 2.60 and a beta of 0.89. The business’s fifty day simple moving average is $338.89 and its two-hundred day simple moving average is $339.52. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 23.26%. Stryker’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 EPS. Analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, June 28th. Stryker’s payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

SYK has been the topic of several research reports. Truist Financial cut their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday. Needham & Company LLC raised their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen boosted their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. BTIG Research reduced their price target on shares of Stryker from $372.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus lowered their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $373.11.

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.