Chevy Chase Trust Holdings LLC Sells 1,458 Shares of Stryker Corporation (NYSE:SYK)

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,358 shares of the medical technology company's stock after selling 1,458 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Stryker worth $71,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Norges Bank bought a new position in Stryker during the fourth quarter worth $1,710,744,000. GAMMA Investing LLC boosted its position in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Stryker in the fourth quarter valued at about $353,394,000. FMR LLC boosted its position in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in shares of Stryker by 52,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SYK shares. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reissued a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BTIG Research set a $403.00 target price on shares of Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Stock Up 0.9%

SYK stock opened at $379.03 on Tuesday. The stock has a market capitalization of $144.67 billion, a P/E ratio of 51.22, a price-to-earnings-growth ratio of 2.83 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. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a 50-day moving average price of $375.47 and a 200-day moving average price of $375.11.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data 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. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company 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 posted $2.50 earnings per share. The firm's revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Insider Activity

In other 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 value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares of the company's stock, 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 SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by 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.

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