Carmignac Gestion Sells 5,100 Shares of Stryker Corporation $SYK

Carmignac Gestion decreased its holdings in Stryker Corporation (NYSE:SYK) by 13.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,669 shares of the medical technology company’s stock after selling 5,100 shares during the period. Carmignac Gestion’s holdings in Stryker were worth $11,748,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new position in shares of Stryker in the 4th quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new stake in Stryker in the 1st quarter worth about $32,000. City Holding Co. raised its position in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the 1st quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Stryker in the 4th quarter worth about $42,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $381.91 on Tuesday. The firm’s 50 day moving average price is $386.77 and its 200-day moving average price is $379.38. 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 Corporation has a one year low of $329.16 and a one year high of $406.19. The firm has a market cap of $146.01 billion, a P/E ratio of 50.58, a P/E/G ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. 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 prior year, the business posted $2.81 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio is currently 44.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SYK shares. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a “hold” rating in a research report on Monday, August 4th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday, July 14th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Roth Mkm lifted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $430.10.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction 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 transaction, the director directly 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

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.