Comgest Global Investors S.A.S. Grows Position in Stryker Corporation $SYK

Comgest Global Investors S.A.S. boosted its holdings in Stryker Corporation (NYSE:SYK) by 16.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,944 shares of the medical technology company’s stock after purchasing an additional 13,806 shares during the quarter. Stryker comprises 0.6% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 27th largest position. Comgest Global Investors S.A.S.’s holdings in Stryker were worth $36,577,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. CenterBook Partners LP bought a new stake in Stryker in the third quarter worth $236,000. Syon Capital LLC grew its position in Stryker by 9.3% during the 3rd quarter. Syon Capital LLC now owns 6,685 shares of the medical technology company’s stock valued at $2,471,000 after purchasing an additional 570 shares during the last quarter. Advisors Capital Management LLC increased its stake in Stryker by 2.8% during the 3rd quarter. Advisors Capital Management LLC now owns 62,624 shares of the medical technology company’s stock valued at $23,150,000 after purchasing an additional 1,689 shares in the last quarter. Maridea Wealth Management LLC purchased a new position in Stryker in the third quarter worth about $280,000. Finally, NEOS Investment Management LLC lifted its stake in shares of Stryker by 38.5% in the third quarter. NEOS Investment Management LLC now owns 42,290 shares of the medical technology company’s stock worth $15,633,000 after buying an additional 11,760 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Up 2.1%

SYK opened at $377.08 on Thursday. The firm’s 50 day simple moving average is $359.13 and its two-hundred day simple moving average is $368.93. The company has a market capitalization of $144.30 billion, a PE ratio of 44.89, a PEG ratio of 2.16 and a beta of 0.87. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 EPS. As a group, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s payout ratio is 41.90%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYK. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a report on Friday, January 30th. Truist Financial lowered their target price 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. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Barclays reissued an “overweight” rating and set a $469.00 price objective on shares of Stryker in a report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $426.94.

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.