Stryker Co. (NYSE:SYK) Shares Purchased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC grew its position in Stryker Co. (NYSE:SYK - Free Report) by 92.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,401 shares of the medical technology company's stock after purchasing an additional 672 shares during the period. Connecticut Wealth Management LLC's holdings in Stryker were worth $504,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cornerstone Advisory LLC raised its position in shares of Stryker by 0.6% in the 4th quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company's stock valued at $2,024,000 after acquiring an additional 31 shares during the period. 49 Wealth Management LLC bought a new position in shares of Stryker during the 4th quarter worth approximately $227,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Stryker by 14.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,678 shares of the medical technology company's stock valued at $23,647,000 after buying an additional 8,468 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Stryker by 10.3% in the 4th quarter. Continuum Advisory LLC now owns 503 shares of the medical technology company's stock valued at $181,000 after buying an additional 47 shares during the last quarter. Finally, Ames National Corp acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $268,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.20% of the company's stock.

Stryker Stock Performance

Shares of SYK stock traded down $1.68 on Wednesday, hitting $382.10. 256,665 shares of the stock were exchanged, compared to its average volume of 1,343,151. The firm's 50 day moving average is $368.24 and its two-hundred day moving average is $376.20. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a market capitalization of $145.84 billion, a PE ratio of 49.20, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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 business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 EPS. Sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker's dividend payout ratio is currently 45.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. JPMorgan Chase & Co. boosted their price target on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Barclays boosted their price target on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Argus set a $450.00 price target on Stryker in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.