Deltec Asset Management LLC Takes Position in Stryker Corporation (NYSE:SYK)

Deltec Asset Management LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,990 shares of the medical technology company's stock, valued at approximately $741,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker during the 4th quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in Stryker during the 4th quarter worth $26,000. Rakuten Securities Inc. boosted its position 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 purchasing an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new stake in Stryker during the 4th quarter worth $30,000. Finally, City Holding Co. boosted its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. 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 research report on Friday, May 2nd. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Evercore ISI decreased their price objective on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $427.30.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of SYK stock opened at $375.44 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The company's 50-day simple moving average is $374.95 and its 200-day simple moving average is $375.30. The stock has a market capitalization of $143.30 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 2.81 and a beta of 0.91.

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, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.