Covea Finance Boosts Holdings in Stryker Corporation $SYK

Covea Finance raised its stake in Stryker Corporation (NYSE:SYK) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,034 shares of the medical technology company’s stock after acquiring an additional 2,000 shares during the quarter. Covea Finance’s holdings in Stryker were worth $10,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new position in Stryker in the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker in the third quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Stryker during the 2nd quarter valued at $28,000. Sachetta LLC lifted its position in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares during the last quarter. Finally, Kilter Group LLC bought a new position in shares of Stryker during the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

NYSE SYK opened at $354.54 on Friday. The company’s 50 day simple moving average is $364.19 and its two-hundred day simple moving average is $376.74. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The stock has a market capitalization of $135.58 billion, a PE ratio of 46.59, a P/E/G ratio of 2.51 and a beta of 0.89.

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, topping the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.87 earnings per share. Analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SYK shares. Rothschild Redb raised shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Truist Financial dropped their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $448.00 price target on shares of Stryker in a report on Friday, November 14th. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.84.

About Stryker

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.