Chicago Capital LLC Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Chicago Capital LLC boosted its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,419 shares of the medical technology company's stock after acquiring an additional 1,367 shares during the period. Stryker accounts for about 2.1% of Chicago Capital LLC's holdings, making the stock its 13th biggest position. Chicago Capital LLC owned 0.05% of Stryker worth $73,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth $1,710,744,000. GAMMA Investing LLC raised its holdings in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Stryker during the 4th quarter valued at about $353,394,000. FMR LLC grew its holdings in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Finally, Proficio Capital Partners LLC increased 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 worth $214,660,000 after purchasing an additional 595,061 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday, May 5th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Evercore ISI cut their price objective on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, BTIG Research set a $403.00 price objective on Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $427.30.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the 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 approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is owned by insiders.

Stryker Trading Down 0.1%

NYSE SYK opened at $377.05 on Tuesday. The stock has a market cap of $143.91 billion, a P/E ratio of 48.59, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock has a 50 day simple moving average of $373.53 and a two-hundred day simple moving average of $375.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. On average, analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. 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%.

Stryker 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 Co. (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.