Davidson Capital Management Inc. Invests $3.19 Million in Stryker Corporation (NYSE:SYK)

Davidson Capital Management Inc. purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,563 shares of the medical technology company's stock, valued at approximately $3,188,000. Stryker comprises approximately 0.9% of Davidson Capital Management Inc.'s portfolio, making the stock its 19th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the fourth quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in Stryker during the 4th quarter worth about $26,000. Rakuten Securities Inc. grew its holdings in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker in the 4th quarter worth approximately $33,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 0.0%

SYK stock traded down $0.15 during midday trading on Thursday, hitting $373.22. 854,682 shares of the company's stock were exchanged, compared to its average volume of 1,333,573. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. 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 $142.45 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. The stock's fifty day moving average price is $373.92 and its 200-day moving average price is $375.52.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share 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 business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the business posted $2.50 EPS. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business 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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is 45.41%.

Analyst Ratings Changes

A number of brokerages have commented on SYK. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday, May 5th. Finally, Citigroup reaffirmed a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $427.30.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value 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 approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by company insiders.

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.