Callahan Advisors LLC Sells 1,454 Shares of Stryker Corporation (NYSE:SYK)

Callahan Advisors LLC cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,410 shares of the medical technology company's stock after selling 1,454 shares during the quarter. Stryker accounts for about 1.8% of Callahan Advisors LLC's portfolio, making the stock its 15th biggest holding. Callahan Advisors LLC's holdings in Stryker were worth $18,393,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mascoma Wealth Management LLC grew its position in Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after purchasing an additional 27 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after acquiring an additional 29 shares in the last quarter. Oakworth Capital Inc. grew its holdings in shares of Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after acquiring an additional 29 shares in the last quarter. Ironwood Investment Counsel LLC grew its holdings in shares of Stryker by 0.9% in the 4th quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock valued at $1,196,000 after acquiring an additional 30 shares in the last quarter. Finally, ICW Investment Advisors LLC grew its stake in Stryker by 0.6% in the fourth quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock valued at $1,745,000 after purchasing an additional 30 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

SYK opened at $394.67 on Friday. The business has a fifty day simple moving average of $384.57 and a 200 day simple moving average of $376.97. The company has a market capitalization of $150.64 billion, a PE ratio of 53.33, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 yield of 0.85%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Analyst Ratings Changes

A number of research analysts have weighed in on SYK shares. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Roth Mkm raised their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Evercore ISI lifted their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business'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 value of $75,392,000.00. Following the completion of the sale, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.90% of the stock is owned by corporate insiders.

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.

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