CenterBook Partners LP Takes Position in Stryker Corporation (NYSE:SYK)

CenterBook Partners LP bought a new position in Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 822 shares of the medical technology company's stock, valued at approximately $306,000.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the fourth quarter worth about $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the first quarter worth about $32,000. City Holding Co. increased its stake in Stryker by 528.6% during the first 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. VSM Wealth Advisory LLC bought a new stake in Stryker during the fourth quarter worth approximately $36,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter worth approximately $40,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 0.0%

Shares of NYSE SYK traded down $0.06 during trading hours on Friday, reaching $388.84. The stock had a trading volume of 1,716,294 shares, compared to its average volume of 1,355,776. 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 market cap of $148.42 billion, a price-to-earnings ratio of 52.55, a P/E/G ratio of 2.93 and a beta of 0.91. The business's fifty day moving average price is $385.67 and its two-hundred day moving average price is $377.93. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 earnings per share. Analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared 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. 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 0.86%. Stryker's payout ratio is 45.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SYK shares. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Truist Financial boosted their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, Needham & Company LLC reissued a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. 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, Stryker has an average rating of "Moderate Buy" and an average target price of $428.55.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction 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 completion of the sale, the director owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company's stock.

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.