Crestline Management LP Acquires Shares of 7,792 Stryker Co. (NYSE:SYK)

Crestline Management LP purchased a new position in Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,792 shares of the medical technology company's stock, valued at approximately $2,806,000.

Several other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker in the 4th quarter worth approximately $25,000. Rakuten Securities Inc. lifted its holdings in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter valued at $30,000. BankPlus Trust Department bought a new stake in Stryker in the 4th quarter worth about $33,000. Finally, Activest Wealth Management purchased a new position in Stryker in the 4th quarter worth about $36,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of Stryker stock traded down $1.59 on Friday, hitting $380.87. 758,784 shares of the company traded hands, compared to its average volume of 1,356,009. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business has a 50-day simple moving average of $365.47 and a 200 day simple moving average of $374.38. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market capitalization of $145.37 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Buying and Selling

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

Analysts Set New Price Targets

SYK has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Evercore ISI decreased their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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. Stifel Nicolaus upped their price objective on Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $427.05.

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.