Chicago Capital LLC Grows Stake in Stryker Corporation (NYSE:SYK)

Chicago Capital LLC increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. 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 comprises approximately 2.1% of Chicago Capital LLC's portfolio, making the stock its 13th largest position. Chicago Capital LLC owned about 0.05% of Stryker worth $73,117,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the 4th quarter valued at $26,000. Rakuten Securities Inc. grew its holdings in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker in the 4th quarter worth $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Up 0.6%

Shares of NYSE SYK traded up $2.18 during mid-day trading on Friday, hitting $375.44. 2,014,462 shares of the stock traded hands, compared to its average volume of 1,336,285. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The company has a market cap of $143.30 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 2.81 and a beta of 0.91. The stock has a fifty day moving average price of $374.45 and a 200-day moving average price of $375.41. 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 released its 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. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the business earned $2.50 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. Research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director now directly owns 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Citigroup reaffirmed a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Roth Mkm lifted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $427.30.

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.