Advisor Resource Council Acquires New Stake in Stryker Corporation (NYSE:SYK)

Advisor Resource Council bought a new position in Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 848 shares of the medical technology company's stock, valued at approximately $316,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker in the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in Stryker during the 4th quarter worth $26,000. Rakuten Securities Inc. increased its stake 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 acquiring an additional 68 shares during the period. BankPlus Trust Department acquired a new stake in Stryker in the 4th quarter valued at about $33,000. Finally, City Holding Co. grew its holdings in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SYK. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Roth Mkm lifted their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.20% of the company's stock.

Stryker Price Performance

NYSE:SYK opened at $379.03 on Tuesday. The firm has a market capitalization of $144.67 billion, a price-to-earnings ratio of 51.22, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock's 50 day moving average price is $375.47 and its two-hundred day moving average price is $375.11. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter last year, the business earned $2.50 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's payout ratio is presently 45.41%.

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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.