Columbus Macro LLC Lowers Position in Stryker Co. (NYSE:SYK)

Columbus Macro LLC cut its holdings in Stryker Co. (NYSE:SYK - Free Report) by 14.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,338 shares of the medical technology company's stock after selling 2,156 shares during the quarter. Columbus Macro LLC's holdings in Stryker were worth $4,593,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Brown Miller Wealth Management LLC raised its holdings in Stryker by 5.5% in the first quarter. Brown Miller Wealth Management LLC now owns 7,387 shares of the medical technology company's stock worth $2,750,000 after purchasing an additional 387 shares in the last quarter. Traphagen Investment Advisors LLC raised its holdings in Stryker by 4.7% in the first quarter. Traphagen Investment Advisors LLC now owns 899 shares of the medical technology company's stock worth $335,000 after purchasing an additional 40 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Stryker by 8,297.9% in the first quarter. Bank Pictet & Cie Europe AG now owns 108,753 shares of the medical technology company's stock worth $40,483,000 after purchasing an additional 107,458 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Stryker by 6.8% in the first quarter. Exchange Traded Concepts LLC now owns 6,692 shares of the medical technology company's stock worth $2,491,000 after purchasing an additional 429 shares in the last quarter. Finally, SFM LLC bought a new position in Stryker in the first quarter worth about $1,364,000. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

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 transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYK. Evercore ISI reduced their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Truist Financial boosted their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Needham & Company LLC restated a "buy" rating and set a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Finally, Roth Mkm upped their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen 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 $427.30.

Stryker Price Performance

Shares of NYSE SYK opened at $377.01 on Monday. The firm has a market cap of $143.90 billion, a P/E ratio of 48.58, a P/E/G ratio of 2.93 and a beta of 0.91. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The business's 50 day moving average price is $372.73 and its 200 day moving average price is $375.66. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $2.50 EPS. On average, sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current 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 dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's payout ratio is 45.41%.

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.

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