Covea Finance Increases Stock Holdings in Stryker Corporation $SYK

Covea Finance lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,007 shares of the medical technology company’s stock after buying an additional 8,973 shares during the quarter. Covea Finance’s holdings in Stryker were worth $13,007,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SYK. Davis R M Inc. grew its stake in Stryker by 1.8% during the 3rd quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company’s stock worth $51,285,000 after buying an additional 2,512 shares during the last quarter. Terra Alpha Investments LLC purchased a new stake in Stryker in the third quarter valued at approximately $1,216,000. Kepler Cheuvreux Suisse SA acquired a new stake in shares of Stryker in the third quarter valued at approximately $27,952,000. Diversified Trust Co boosted its holdings in shares of Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after acquiring an additional 3,899 shares during the period. Finally, SVB Wealth LLC purchased a new position in shares of Stryker during the second quarter worth approximately $4,785,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $335.96 on Friday. The stock has a market capitalization of $128.57 billion, a P/E ratio of 39.99, a P/E/G ratio of 1.99 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a 1 year low of $328.23 and a 1 year high of $404.87. The company’s fifty day moving average is $363.25 and its two-hundred day moving average is $366.04.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $4.01 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SYK. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Evercore set a $390.00 price objective on shares of Stryker in a research note on Monday, January 5th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Sanford C. Bernstein increased their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Finally, Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a report on Friday, December 19th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.50.

Stryker 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.