Cary Street Partners Financial LLC Takes Position in Stryker Co. (NYSE:SYK)

Cary Street Partners Financial LLC purchased a new stake in Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,415 shares of the medical technology company's stock, valued at approximately $3,030,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. J. W. Coons Advisors LLC boosted its stake in Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock worth $1,315,000 after purchasing an additional 26 shares during the period. Mascoma Wealth Management LLC grew its holdings in shares of Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after buying an additional 27 shares in the last quarter. Opal Wealth Advisors LLC lifted its stake in Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock worth $654,000 after acquiring an additional 28 shares in the last quarter. Lindbrook Capital LLC boosted its position in Stryker by 2.0% during the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after acquiring an additional 28 shares during the period. Finally, Alhambra Investment Management LLC grew its stake in Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company's stock valued at $719,000 after acquiring an additional 29 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of NYSE SYK traded down $1.59 during mid-day trading on Friday, hitting $380.87. The company had a trading volume of 758,784 shares, compared to its average volume of 1,356,009. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market cap of $145.37 billion, a P/E ratio of 49.08, a PEG ratio of 2.93 and a beta of 0.93. The business's 50-day simple moving average is $365.47 and its 200-day simple moving average is $374.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 earnings per share. As a group, analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is 45.41%.

Analysts Set New Price Targets

A number of brokerages recently commented on SYK. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Stifel Nicolaus upped their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $427.05.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Stryker Company Profile

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.