Cohen Capital Management Inc. Cuts Holdings in Stryker Corporation (NYSE:SYK)

Cohen Capital Management Inc. lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 1.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 83,114 shares of the medical technology company's stock after selling 1,600 shares during the period. Stryker accounts for approximately 5.3% of Cohen Capital Management Inc.'s portfolio, making the stock its largest position. Cohen Capital Management Inc.'s holdings in Stryker were worth $30,939,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC lifted its holdings in Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after buying an additional 29 shares during the period. Oakworth Capital Inc. raised its holdings in Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares in the last quarter. ICW Investment Advisors LLC lifted its position in Stryker by 0.6% during 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 buying an additional 30 shares during the period. Rinkey Investments boosted its holdings in shares of Stryker by 1.1% during the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock valued at $976,000 after buying an additional 30 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its position in shares of Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after buying an additional 30 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 sale, the director owned 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.20% of the company's stock.

Stryker Stock Performance

Shares of NYSE:SYK traded up $0.06 during midday trading on Wednesday, hitting $390.65. The company had a trading volume of 1,067,398 shares, compared to its average volume of 1,353,349. The company has a market cap of $149.11 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The company has a fifty day moving average of $385.25 and a two-hundred day moving average of $377.46. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping 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 firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company earned $2.50 earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced 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 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Analysts Set New Price Targets

Several research firms recently commented on SYK. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday. Citigroup reissued a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Roth Mkm boosted their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

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.