Ascent Wealth Partners LLC Increases Holdings in Stryker Corporation (NYSE:SYK)

Ascent Wealth Partners LLC grew its position in Stryker Corporation (NYSE:SYK - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,062 shares of the medical technology company's stock after buying an additional 1,476 shares during the period. Stryker accounts for approximately 1.6% of Ascent Wealth Partners LLC's investment portfolio, making the stock its 15th largest position. Ascent Wealth Partners LLC's holdings in Stryker were worth $11,563,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC raised its position in Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares during the period. Oakworth Capital Inc. increased its position in shares of Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares during the last quarter. ICW Investment Advisors LLC increased its position in shares of Stryker by 0.6% during the 4th quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock worth $1,745,000 after purchasing an additional 30 shares during the last quarter. Rinkey Investments raised its holdings in Stryker by 1.1% in the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock valued at $976,000 after buying an additional 30 shares during the period. Finally, Tritonpoint Wealth LLC lifted its position in Stryker by 0.7% in the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock valued at $1,508,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Finally, Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Stock Down 0.0%

SYK traded down $0.06 on Friday, hitting $388.84. 1,716,294 shares of the company were exchanged, compared to its average volume of 1,354,042. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a market cap of $148.42 billion, a price-to-earnings ratio of 52.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $385.51 and a two-hundred day moving average price of $377.73.

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

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 45.41%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 completion of the sale, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by company insiders.

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.