Covea Finance Purchases 2,000 Shares of Stryker Corporation $SYK

Covea Finance lifted its position in shares of Stryker Corporation (NYSE:SYK) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,034 shares of the medical technology company’s stock after buying an additional 2,000 shares during the period. Covea Finance’s holdings in Stryker were worth $10,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Stryker during the second quarter worth approximately $1,882,173,000. Alliancebernstein L.P. grew its holdings in shares of Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC raised its position in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. ABN AMRO Bank N.V. bought a new stake in Stryker in the second quarter worth $191,047,000. Finally, Vanguard Group Inc. boosted its position in Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after buying an additional 440,607 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SYK shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. Citigroup cut their target price on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Finally, Barclays upped their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.84.

Stryker Price Performance

SYK opened at $354.54 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The stock has a market capitalization of $135.58 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The stock’s 50 day moving average price is $364.19 and its 200-day moving average price is $376.74. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the business posted $2.87 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio is presently 44.15%.

Insiders Place Their Bets

In other news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 522,118 shares of company stock worth $185,381,932 over the last three months. Company insiders own 5.90% of the company’s stock.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.