Davis Rea LTD. Boosts Position in Stryker Corporation (NYSE:SYK)

Davis Rea LTD. grew its position in Stryker Corporation (NYSE:SYK - Free Report) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,596 shares of the medical technology company's stock after purchasing an additional 5,295 shares during the quarter. Stryker makes up approximately 3.5% of Davis Rea LTD.'s portfolio, making the stock its 7th largest holding. Davis Rea LTD.'s holdings in Stryker were worth $13,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SYK. Continuum Advisory LLC boosted its stake in Stryker by 5.8% during 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 in the last quarter. Oakworth Capital Inc. raised its holdings in Stryker by 0.5% during the 1st 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 during the last quarter. Rinkey Investments grew its position 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 worth $976,000 after buying an additional 30 shares during the period. Tritonpoint Wealth LLC grew its position in shares of Stryker by 0.7% during 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. Finally, Cornerstone Advisory LLC grew 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 purchasing an additional 31 shares during the period. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI boosted their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $428.55.

Stryker Stock Down 0.6%

Shares of NYSE:SYK traded down $2.44 during mid-day trading on Monday, hitting $401.09. 337,216 shares of the company traded hands, compared to its average volume of 1,438,229. The stock has a 50-day moving average price of $386.37 and a two-hundred day moving average price of $379.44. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The stock has a market cap of $153.09 billion, a P/E ratio of 54.22, a P/E/G ratio of 2.99 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share 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 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 firm earned $2.50 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Stryker's dividend payout ratio is presently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the 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 sale, the director owned 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 SEC, which is accessible through this hyperlink. 5.90% of the stock is owned by corporate insiders.

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.