Cullinan Associates Inc. Grows Position in Stryker Corporation (NYSE:SYK)

Cullinan Associates Inc. boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 28.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,625 shares of the medical technology company's stock after acquiring an additional 1,700 shares during the quarter. Cullinan Associates Inc.'s holdings in Stryker were worth $2,838,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Elefante Mark B purchased a new position in shares of Stryker in the fourth quarter valued at $337,000. Mogy Joel R Investment Counsel Inc. increased its position in shares of Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after buying an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Stryker in the first quarter valued at $1,840,000. Finally, Metis Global Partners LLC increased its position in shares of Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after buying an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Up 0.6%

SYK opened at $375.44 on Friday. 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 stock has a market capitalization of $143.30 billion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The business has a 50-day moving average of $374.95 and a two-hundred day moving average of $375.20. 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 results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating 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 company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the business earned $2.50 EPS. The firm's revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker's payout ratio is currently 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 dated 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. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup restated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Evercore ISI dropped their price objective on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $427.30.

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.

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